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The going concern assumption means: the entity is facing difficulties continuing as a viable business entity

Accounting Sep 18, 2020

The going concern assumption means:

the entity is facing difficulties continuing as a viable business entity.

the entity is viewed as continuing in business for the foreseeable future with no need for liquidation.

assets and liabilities are stated at liquidation values.

the auditor is concerned whether the entity is going to change locations.

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