Question

Going concern concept assumes that a business will run for .

• A. a year
• B. a month
• C. a week
• D. forseeable future

Answer 1

The correct option is D forseeable future

Going concern concept assumes that a business will run it's operations for a forseeable future. A company is a going concern if no evidence is available to believe that it will or will have to cease its operations in foreseeable future.