a company will Which concept assumes continue to operate indefinitely? a) Revenue Recognition b) Going Concern c) Conservatism d) Consistency Answer: b) Going Concern

Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter9: Auditing The Revenue Cycle.
Section: Chapter Questions
Problem 1RQSC: Refer to Exhibit 9.1. Which accounts are relevant in the revenue cycle? Identify the relationships...
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Concept?

a
company will
Which concept assumes
continue to operate indefinitely?
a) Revenue Recognition
b) Going Concern
c) Conservatism
d) Consistency
Answer: b) Going Concern
Transcribed Image Text:a company will Which concept assumes continue to operate indefinitely? a) Revenue Recognition b) Going Concern c) Conservatism d) Consistency Answer: b) Going Concern
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