Valuing assets at their liquidation values is not consistent with:
A)conservatism.
B)materiality.
C)going concern.
D)time period.
E)None of the answers are correct.

Question

Quizplus · Accepted Answer

Valuing assets at their liquidation values assumes that the company will not continue to operate as a going concern, which goes against the principle of going concern in accounting.

Valuing Assets at Their Liquidation Values Is Not Consistent With