Which accounting concept assumes that a business catereprise will not be liquidated in the near future? Explain concept
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Heya..
Its Going Concern Assumption or concept which assumes that business shall continue for a foreseeable period and there is no intention to close the business or scale down its operations significantly. This implies that it will not be dissolved in the immediate future unless there is a clear evidence of closure. Hence, this concept assumes that a business enterprise will not be liquidated in the near future .
hope it helps☺
Its Going Concern Assumption or concept which assumes that business shall continue for a foreseeable period and there is no intention to close the business or scale down its operations significantly. This implies that it will not be dissolved in the immediate future unless there is a clear evidence of closure. Hence, this concept assumes that a business enterprise will not be liquidated in the near future .
hope it helps☺
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