Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 5 - No. 33)
What does the term "going concern" mean in relation to a company?
That the company is a government organization
That the company will not last for a long time
That the company is expected to continue operating in the foreseeable future
That the company is in financial distress
Explanation
Going concern implies the company will continue operations.
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