Question

Which assumption makes the current - noncurrent classification of assets and liabilities on the balance sheet lose much of its significance if a company adopts a liquidation approach?

-Going concern assumption.
-Economic entity assumption.
-Monetary unit assumption.
-Periodicity assumption.

Answer 1

[AI-generated answer — Bot]

Going concern assumption.

Answer 2

[AI-generated answer — Step-by-Step Bot]

The assumption that makes the current - noncurrent classification of assets and liabilities on the balance sheet lose much of its significance if a company adopts a liquidation approach is the Going Concern assumption.