The Going Concern Principal Does Not Apply If a Company

question 7

True/False

The going concern principal does not apply if a company is expected to be liquidated in the next 24 months.

---

Definitions:

Bar Exam

A comprehensive examination that a law graduate must pass to become licensed to practice law in a specific jurisdiction.

Prospective Lawyers

Individuals who are studying or planning to study law with the aim of becoming licensed lawyers.

Local Bar Association

An organization that represents the interests of lawyers in a specific geographic area and provides professional development and networking opportunities.

Prospective Attorney

An individual who is considering or seeking to pursue a career in law, or a lawyer being considered for a particular legal matter or position.