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The ‘going concern concept’ is the underlying basis for 
  • a)
    Stating fixed assets at their realizable values. 
  • b)
    Disclosing the market value of securities. 
  • c)
    Disclosing the sales and other operating information in the income statement
  • d)
    None of the above.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
The ‘going concern concept’ is the underlying basis fora)S...
Going concern is a basic underlying assumption in accounting. The assumption is that a company or other entity will be able to continue operating for a period of time that is sufficient to carry out its commitments, obligations, objectives, and so on.
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The ‘going concern concept’ is the underlying basis fora)S...
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The ‘going concern concept’ is the underlying basis fora)Stating fixed assets at their realizable values.b)Disclosing the market value of securities.c)Disclosing the sales and other operating information in the income statementd)None of the above.Correct answer is option 'A'. Can you explain this answer?
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