The going concern assumption is inappropriate when: Select one: liquidation appears likely. market values are higher than costs.
The going concern assumption is inappropriate when: Select one: liquidation appears likely. market values are higher than costs.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The going concern assumption is inappropriate when:
Select one:
а.
liquidation appears likely.
b.
market values are higher than costs.
C.
the business is organised as a sole trader.
d.
the business is just starting up.
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