The assumption that a company will continue to operate long enough to carry out its existing objectives and commitments is known as:
A) going concern.
B) economic entity.
C) accrual accounting.
D) full disclosure.

Question

Quizplus · Accepted Answer

The going concern assumption is the principle that a company will continue its operations into the foreseeable future and not liquidate its assets.

The Assumption That a Company Will Continue to Operate Long