alleryStart learning →How long is the foreseeable future usually taken to be under the going concern assumption?
AAt least 10 years
BAt least 12 months
CAt least 1 month
DAt least 3 months
Answer & Solution
Correct answer: B. At least 12 months
Foreseeable future is usually regarded as at least the next 12 months or the accounting period, whichever is longer.
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