The Going Concern or Continuity Assumption Is Critical to Financial

The going concern or continuity assumption is critical to financial accounting. The assumption

A) Is always maintained for all firms for all years.
B) Supports the use of historical cost valuation for assets rather than market values.
C) Means that a corporation has a definite ending date.
D) Requires that we immediately expense prepaid accounts because they do not represent a future cash inflow.

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