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what is going concern assumption?
Going concern assumption: An accounting guideline which allows the readers of financial statements to assume that the company will continue on long enough to carry out its objectives and commitments. [ In other words, the accountants believe that the company will not liquidate in the near future. This assumption also provides some justification for accountants to follow the cost principle. ]
Expert answered|jeifunk|Points 9798|
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Asked 5/30/2013 3:59:50 PM
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what are internal control environments for a large corporation?
Weegy: Internal control systems operate at different levels of effectiveness. [ Internal control can be judged effective in each of the three categories, respectively, if the board of directors and management have reasonable assurance that: They understand the extent to which the entity's operations objectives are being achieved. ·Published financial statements are being prepared reliably. ·Applicable laws and regulations are being complied with. ] (More)
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Updated 5/25/2013 2:00:51 PM
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prettyqueen13, when you take information from another website, you must provide a link to the source.

Please read the rules
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