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      Question

      Valuation under “going concern” assumes that assets

      will be:
      A Liquidated immediately Correct Answer Incorrect Answer
      B Sold at market value Correct Answer Incorrect Answer
      C Used in operations indefinitely Correct Answer Incorrect Answer
      D Scrapped Correct Answer Incorrect Answer
      E Donated Correct Answer Incorrect Answer

      Solution

      Going concern assumes business will continue, so assets are valued based on ongoing use, not liquidation.

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