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Going Concern

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image for OpenScout resource :: Going Concern

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One of the most basic accounting assumptions is the concept that a business is a going concern. Unless there is significant evidence to the contrary, it is assumed that a specific business enterprise will continue to operate for an indefinite period, or at least for the "foreseeable future"—long enough both to meet its objectives and fulfill its commitments.

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Copyright © 2011 Advameg, Inc.