The idea that businesses must be accounted for as though they will exist at least for the foreseeable future is the

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Quizplus · Accepted Answer

The Going concern concept assumes that a business will continue to operate for the foreseeable future, and therefore its financial statements should reflect that assumption. This concept guides the preparation of financial statements, assumptions made in business plans, and investments, among others.

The Idea That Businesses Must Be Accounted for as Though