Valuing assets at their liquidation values is not consistent with:
A) conservatism
B) materiality
C) going concern
D) time period
E) none of the answers are correct

Question

Quizplus · Accepted Answer

Valuing assets at their liquidation values assumes the business will not continue operating, which contradicts the going concern principle that assumes a business will continue to operate indefinitely.

Valuing Assets at Their Liquidation Values Is Not Consistent With