The ____________ assumption assumes that in the absence of information to the contrary, it is anticipated that a business will o

Question

bogdanovich [222]

2 years ago

12

The ____________ assumption assumes that in the absence of information to the contrary, it is anticipated that a business will o

perate indefinitely.

Social Studies

1 answer:

Gelneren [198K] · Answer 1 · 2022-04-06T10:14:22+03:00

Answer:

The going concern assumption

Explanation:

The <u>going concern</u> assumption assumes that in the absence of information to the contrary, it is anticipated that a business will operate indefinitely. The going concern assumption implies that an entity will continue being in business indefinitely. The going concern assumption is necessary for accountants to determine if a company or business will be in business long enough to meet its obligations and targets.