The assumption that a business will continue to exist into the foreseeanle future is recognized...
FINANCIAL
JAMB 2023
The assumption that a business will continue to exist into the foreseeanle future is recognized by a concept called
- A. matching
- B. business entity
- C. going concern
- D. historical cost
Correct Answer: C. going concern
Explanation
The going concern concept states that a business will continue to operate for an indefinte period of time or perpectual existence.
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