alleryStart learning →The going concern assumption presumes an entity continues for at least how long?
AThe next 6 months
BThe next 3 months
CThe next 12 months
DThe next 5 years
Answer & Solution
Correct answer: C. The next 12 months
The foreseeable future in a going concern presumption is usually regarded as at least the next 12 months or the accounting period.
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