One of two assumptions made by the IASB conceptual framework is that the reporting entity is a going concern.

Name: One of two assumptions made by the IASB conceptual framework is that the reporting entity is a going concern.
Brand: Quizplus
Rating: 4.8 (51 reviews)

Question

Quizplus · Accepted Answer

The IASB conceptual framework assumes that the reporting entity is a going concern, meaning that it will continue to operate for the foreseeable future. This assumption affects the way financial statements are prepared and presented.

One of Two Assumptions Made by the IASB Conceptual Framework