what is the meaning of going concern assumption
Going concern A current definition of the going concern assumption can be found in the AICPA Statement on Auditing Standards No.1 Codification of Auditing Standards and Procedures, Section 341, “ The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern”(AU Section 341). The 'going concern' concept assumes that the business will remain in existence long enough for all the assets of the business to be fully utilized. Utilized assets means obtaining the complete benefit from their earning potential. (i.e. if you recently purchased equipment costing $5,000 that had 5 years of productive/useful life, then under the going concern assumption, the accountant would only write off one year's value $1,000 (1/5th) this year, leaving $4,000 to be treated as a fixed asset with future economic value for the business).
Import quota Quotas, like other trade restrictions, are typically used to benefit the producers of a good in that economy.
One Ring One ring to rule them all, one ring to find them,One ring to bring them all and in the darkness bind them.
Asia-Pacific On the whole there appears to be no clear cut definition of "Asia Pacific" and the regions included change as per the context.