The Going Concern Concept Is Explicitly Stated in the IFRS

question 107

True/False

The going concern concept is explicitly stated in the IFRS conceptual framework but is only implicit in the U.S. GAAP conceptual framework.

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Definitions:

International Test

A standardized examination administered across multiple countries to assess the abilities, skills, or knowledge of individuals on a global scale.

Reading

The process of decoding symbols, such as letters and words, to derive meaning from text.

Bilingual Education

An educational approach where students are taught in two languages, aiming to achieve fluency in both.

Instruction

The act of teaching or providing knowledge to someone, typically in a formal setting.