Question

why is necessary for accountants to assume that business entity will remain a going concern?​

Answer 1

Answer:The concept of going concern assumes that a business firm would continue to carry out its operation indefinitely it allows accountants to change from the revenues of a period only that part of assets which has been consumed or used to earn that revenue in that period and carry forward the remaining amount to the next years, own the estimated life of the assets.

Explanation:

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Answer 2

Answer:

The concept of going concern assumes that a business firm would continue to carry out its operation indefinitely it allows accountants to change from their revenues of a period only that part of assets which has been consumed or used to earn that revenue in that period and carry forward the remaining amount to the next years , own the estimated life of the assets .

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