The expectation (concept) that a business can continue to exist, even after it is sold to others is known as:
a. Going concern
b. Business entity
c. Accounting equation
d. Information usefulness
Answer: a. Going concern
The expectation (concept) that a business can continue to exist, even after it is sold to others is known as:
a. Going concern
b. Business entity
c. Accounting equation
d. Information usefulness
Answer: a. Going concern