Going concern principle


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Querist : Anonymous

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Querist : Anonymous (Querist)
05 August 2013 License to run a business of a partnership firm has been cancelled and this case is under appeal.Can i show that the financial statements are prepared following going concern concept in the audit report?

05 August 2013 .
Until someone can breathe- he can not be declared as dead.
.

Accidental -Case:
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If the concern may go with new or existing alternatives then it should be treated as
a going concern.
.
So, until the appeal is decided you may go with the same concept.
.
Looking to the seriousness of the injury, relatives should have been informed about the status of the patient. You may convey the message to the stakeholders by way of a note.
.

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 August 2013 Thank u sir..!!


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