Lesson60 seconds
What is Going Concern?
Assuming the business will keep running long enough to use its assets normally.
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Simple Definition
Going concern is the assumption that an entity will continue operating for the foreseeable future and is not forced to liquidate or curtail operations materially.
Explanation level
Tap a persona to hear the same idea in a totally different voice.
Try “Like I'm 5™” for a picture-book version - not the grown-up wording above.
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