Ask Experts Questions for FREE Help !
Ask
    N Srinivas Rao's Avatar
    N Srinivas Rao Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 13, 2008, 10:33 AM
    How to know Going Concern
    Dear,
    Can anyone help me to know "whether the company can be taken to be Going Concern?"

    Are the bankruptcy of corporates not known?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Dec 13, 2008, 10:53 AM

    Going Concern is an assumption of U.S. Generally Accepted Accounting Principles (GAAP)

    Going Concern means that a company will continue to operate indefinitely.

    If a company goes Bankrupt, then it violates the Going Concern assumption.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

A concern [ 3 Answers ]

Ok here it goes a year ago I lost my baby I was 5 months no one knows why, and I have been trying to get pregnet but I can't the doctors tell me everything is OK but I'm worried that I can't have anymore kids if there anything else I can do?

Should I have concern [ 7 Answers ]

I met this gal through a popular online dating service. We hit it off immediately on just about everything we talked about and we have fallen in love. We have never met and it has been two mouths we plan to meet in two mouths from now and spend a week together. Now here is the problem; She was...

Std concern [ 6 Answers ]

My ex roommate recently found out she has vaginal herpes. I understand that you cannot get it from toilet seats and stuff but I cannot remember if I ever used her razor at all and if I did it was probable at least more than a week before she had an outbreak. I have never had any sexual relations...

Next concern [ 7 Answers ]

My husband and I are trying to buy a house but in the meantime we are renting. A month ago we got a new landlord. He has told us that we need to either get rid of our dog or leave. I can't afford to pay 1st, last, and rent on a new place and I already paid the last landlord 375 towards the dog. ...

Whom It may Concern [ 1 Answers ]

Please may u answer for me this question it is about economics. Tell me the difference between static production possibility frontier and dynamic production possibility frontier? Thanks.

View more questions Search