Which of the following statements best describes the term 'going concern'?

<p>1) The potential to contribute to the flow of cash and cash equivalents to the entity</p> <p> </p> <p>2) When current assets less current liabilities become negative</p> <p> </p> <p>3) The ability of the entity to continue in operation for the foreseeable future</p> <p> </p> <p>4) The income less expenses of an entity are negative</p> <p> </p> <p>5) None of the above is correct</p>