Business, 25.01.2020 03:31 huneymarie

Which of the following demonstrates the going concern concept? a) aqg industries sold $20,000 of product on credit to ssa manufacturing. ssa did not pay on time. aqg decides that it is fruitless to pursue collection so they write off the receivable from ssa. b) gail's garments has been in business for 20 years and during that period the company has gained a good reputation. gail would like the controller to acknowledge the value of that reputation by including it as an asset worth $100,000 but the controller says she cannot do it. c) aqg industries purchases $20,000 of product on credit from rsi manufacturing. aqg records the purchase as an increase in inventory and an increase in accounts payable. aqg feels that they will be able to realize the value from the inventory and settle the obligation to rsi in the weeks to come.

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Which of the following demonstrates the going concern concept? a) aqg industries sold $20,000 of pro...