Which of these refers to the concept that a business is expected to continue in existence for the foreseeable future?
A)Business entity
B)Costs and expenses
C)Going concern
D)Buy and sell

Question

Quizplus · Accepted Answer

Going concern refers to the assumption that a business will continue to operate indefinitely, unless there is evidence to the contrary. It is widely accepted in accounting and financial reporting as an underlying principle.

Which of These Refers to the Concept That a Business