The Going Concern Assumption Is That the Business Will Continue

question 248

True/False

The going concern assumption is that the business will continue in operation long enough to carry out its existing objectives and commitments.

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Definitions:

Behavioral Autonomy

A situation in which the continued reinforcement of a specific behavior leads to the occurrence of the response despite a devalued reinforcement.

Mental Representation

The mental imagery of things that are not currently seen or present, including abstractions such as ideas and concepts.

Event Contingencies

The relationship or dependency between certain events, where the occurrence of one event affects the likelihood of another.

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed. It is thought to be one of the underlying causes of depression.