Which of the following assumptions that underlies the preparation of financial statements assumes that companies will continue their operations over time?
A) Separate economic entity
B) Going concern
C) Accounting period
D) Measuring unit

Question

Quizplus · Accepted Answer

Under the going concern assumption, companies are assumed to have continuity in that they can be expected to continue in operations over time.

Which of the Following Assumptions That Underlies the Preparation of Financial