GOING-CONCERN PRINCIPLE
\ɡˌə͡ʊɪŋkənsˈɜːn pɹˈɪnsɪpə͡l], \ɡˌəʊɪŋkənsˈɜːn pɹˈɪnsɪpəl], \ɡ_ˌəʊ_ɪ_ŋ_k_ə_n_s_ˈɜː_n p_ɹ_ˈɪ_n_s_ɪ_p_əl]\
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That in the foreseeable future, a company will continue to operate as it is doing so now, is a significance principle in accounting. When the worth of a running business is compared with the worth of one being liquidated, the difference is apparent.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.