Financial statements are prepared on the premise that the organisation will continue operations in the foreseeable future.To which financial statement assumption does this relate?
A) accounting entity
B) monetary
C) historical cost
D) going concern.

Question

Quizplus · Accepted Answer

The going concern assumption is the financial statement assumption that assumes that the organization will continue its operations in the foreseeable future.

Financial Statements Are Prepared on the Premise That the Organisation