The Going Concern Assumption States That a Business Will Be

question 2

True/False

The going concern assumption states that a business will be shutting down its operation in the near future.

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Definitions:

Labour Costs

are the expenses incurred by employers for the work done by employees, including wages, benefits, and taxes related to employment.

Kiln

A furnace or oven for burning, baking, or drying, especially one for calcining lime or firing pottery.

Labour Hours

The total number of hours worked by employees in a specified period, commonly used as a measure of labor input.