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The going concern concept refers to a presumption that:

A. the entity will be profitable in the coming year. B.the entity will not be involved in a merger within a year. C) the entity will continue to operate in the foreseeable future. D) top management of the entity will not change in the coming year.

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Question ajoutée par Vinod Jetley , Assistant General Manager , State Bank of India
Date de publication: 2014/10/26
Ibrahim Hussein Mayaleh
par Ibrahim Hussein Mayaleh , Sales & Business Consultant and Trainer , Self-employed

I will go for C too

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
par VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Option: C 

Going concern is one the fundamental assumptions in accounting on the basis of which financial statements are prepared. Financial statements are prepared assuming that a business entity will continue to operate in the foreseeable future without the need or intention on the part of management to liquidate the entity or to significantly curtail its operational activities. Therefore, it is assumed that the entity will realize its assets and settle its obligations in the normal course of the business. - See more at: http://accounting-simplified.com/financial-accounting/accounting-concepts-and-principles/going-concern.html#sthash.Hgw1tvrz.dpuf

 

Maduako Anthony Nkemjika
par Maduako Anthony Nkemjika , RIGGER , kegee global services

poor standard and specification and units

Vinod Jetley
par Vinod Jetley , Assistant General Manager , State Bank of India

C) the entity will continue to operate in the foreseeable future.

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