The concept that a business has a reasonable expectation of remaining in business for the foreseeable future is called the
A)economic entity assumption.
B)monetary unit assumption.
C)periodicity assumption.
D)going concern assumption.

Question

Quizplus · Accepted Answer

The going concern assumption is the accounting principle that assumes a business will continue to operate and not go bankrupt or be liquidated in the near future.

The Concept That a Business Has a Reasonable Expectation of Remaining