what is meant going concern
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According to the going concern concept it is assumed that the organisations will continue for a long time unless and until it has entered into the state of liquidation.
Example-- Fixed Assests are depriciated basing on this concept.
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https://goo.gl/search/Going+concern
Going concern,
Explanation:
A going concern is a business that functions without the threat of liquidation for the foreseeable future, which is usually regarded as at least the next 12 months or the specified accounting period. In Simple words, a going concern is the ability of a business to meet its financial obligations when they fall due.
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