Explain what the Going-concern Assumption is (2) provide an example of its application

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Explain what the Going-concern Assumption is (2) provide an example of its application

Please assist with the questions below:

The accounting profession follows a set of guidelines for measurement and disclosure of financial information called the Generally Accepted Accounting Principles (GAAP). (1) Explain what the Going-concern Assumption is (2) provide an example of its application

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