Going Concern Concept Is Also Known As

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Class11 Chapter 3 Going Concern Concept English Accounting

Going Concern Concept Is Also Known As

The going concern concept is one of the fundamental accounting principles that shows that the accounting statements are organized so that the company cannot be bankrupt or liquidated for the foreseeable future i e generally for 12 months

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Das Going Concern Prinzip I Einfach Erkl rt

Das Going Concern Prinzip I Einfach Erkl rt

Going Concern Concept or Going Concern principle states or assumes that a business will continue to operate indefinitely Or till the firm at least achieves its purpose or objective In other words we can say that this concept says that a business will not close down or sell itself in the near foreseeable future

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Going Concern Concept Meaning Importance And Benefits

Going Concern Concept Meaning Importance And Benefits

The concept of going concern is an underlying assumption in the preparation of financial statements hence it is assumed that the entity has neither the intention nor the need to liquidate or curtail materially the scale of its operations

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Going Concern Concept In Accounting Meaning And Use Of Going Concern

Going Concern Concept In Accounting Meaning And Use Of Going Concern

The going concern concept is a fundamental principle in accounting that assumes a business will continue its operations for the foreseeable future This concept is critical because it influences how financial statements are prepared It implies that the company has no intention to liquidate or significantly downsize its operations

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The going concern concept is one of the fundamental accounting principles that shows that the accounting statements are organized so that the company cannot be bankrupt or liquidated for the foreseeable future i e generally for 12 months

Going Concern Concept or Going Concern principle states or assumes that a business will continue to operate indefinitely Or till the firm at least achieves its purpose or objective In other words we can say that this concept says that a business will not close down or sell itself in the near foreseeable future