MsShreve7443 MsShreve7443

20-08-2020
Business

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The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue, is the:

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ewomazinoade ewomazinoade

25-08-2020

Answer:

Going concern assumption

Explanation:

The going concern principle is the assumption that an entity will remain in business for the foreseeable future.

This assumption holds in the absence of significant information to the contrary such as inability to meet obligations as they fall due

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