The Assumption That a Business Is Capable of Continuing Its

question 176

Multiple Choice

The assumption that a business is capable of continuing its operations long enough to meet its obligations is called the:

• A)solvency assumption.
• B)going-concern assumption.
• C)profitability assumption.
• D)liquidity assumption.

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Definitions:

Tertiary Sector

A segment of the economy focused on providing services rather than producing goods, including sectors like retail, entertainment, and financial services.

Self-employed

A status referring to individuals who work for themselves, either by owning a business or by offering their services independently.

Secondary Labour Market

Jobs that are insecure and temporary, offer minimal pay, and provide few opportunities to advance.

Primary Labour Market

Jobs that provide stable and comfortable salaries, potential for growth and promotion, and fringe benefits, but also require postsecondary training or education.