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Daily Archives: May 16, 2023

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The meaning of ‘going concern and gone concern’ entities

Accounting, Risk ManagementBy Surendra NaikMay 16, 2023

In accounting parlance, a going concern is a business that is assumed to be able to meet its financial obligations when they become due. In the case of a ‘Going Concern’ entity, statutory auditors do not foresee the threat of liquidation for the foreseeable future, which is usually regarded as at least the next 12…

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