Day: June 1, 2021

What does the ‘going concern’ principle mean?

Select ONE answer:

1. a business is profitable
2. a business will continue to operate for the foreseeable future
3. the assets of a business exceed its liabilities
4. the assets of a business should be valued at disposal value

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

1. Not correct
2. Correct
3. Not correct
4. Not correct

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