contestada

Any foreseeable losses should be recorded in the current year, whereas profit will be recorded when it is realised

Respuesta :

The given statement is false, this not true about the accounting principle, "going-concern concept."

What is going concern principle?

The principle of going concern:

The going concern principle assumes that a company will continue to operate for the foreseeable future. On the other hand, this means that the company will not be compelled to shut down operations and dispose its assets at fire-sale rates in the near future.

Check out the link below to learn more about going concern principle;

https://brainly.com/question/14477093

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