Accountancy, asked by vickysingh12731, 9 months ago

Which accounting concepts assumes that the business will survive for an indefinite period of time

Answers

Answered by sahookalliprasad
1

Answer:

The going concern principle is the assumption that an entity will remain in business for the foreseeable future. Conversely, this means the entity will not be forced to halt operations and liquidate its assets in the near term at what may be very low fire-sale prices.

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