An entity that has no plans or need to liquidate its operations is considered to be able to operate as a going concern.

Name: An entity that has no plans or need to liquidate its operations is considered to be able to operate as a going concern.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The going concern principle assumes that an entity will continue its operations in the foreseeable future and has neither the intention nor the need to liquidate or significantly curtail its operations.

An Entity That Has No Plans or Need to Liquidate