The Concept of 'Going Concern' Means That We Assume That;

question 10

Multiple Choice

The concept of 'going concern' means that we assume that;

• A)the business will continue to exist into the indefinite future
• B)the ownership of the business will not change in the foreseeable future
• C)the nature of the business will not change in the foreseeable future.
• D)the business will continue to be profitable for the foreseeable future.

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Definitions:

Majority Vote

A decision-making process where the option receiving more than half of the votes is chosen or deemed accepted.

Buying Center

A group of individuals within an organization who participate in the decision-making process of purchasing goods or services.

Initiator

The buying center participant who first suggests buying the particular product or service.

Student Body President

An elected representative of the students in educational institutions, typically responsible for representing student interests.