Many of our present financial statement figures would be misleading if it were not for the going concern assumption.

Name: Many of our present financial statement figures would be misleading if it were not for the going concern assumption.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The going concern assumption assumes that a company will continue to operate indefinitely, and therefore many of the financial statement figures are based on this assumption. Without it, certain figures may be skewed or inaccurate.

Many of Our Present Financial Statement Figures Would Be Misleading