Legal Definition and Related Resources of Going Concern
Meaning of Going Concern
A corporation or a firm that is continuing to transact its ordinary business .
Going Concern Alternative Definition
A business establishment which continues to transact its ordinary business, though it may be embarrassed, or even insolvent. 30 Fed. 865,
Related Entries of Going Concern in the Encyclopedia of Law Project
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Going Concern in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Going Concern in Historical Law in the Encyclopedia of Law.
Legal Abbreviations and Acronyms
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| Going Concern in the Dictionary | Going Concern in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Going Concern |
| Legal Maxims | Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law |
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| Related topics | Going Concern in the World Encyclopedia of Law |
Notice
This definition of Going Concern is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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Going Concern Definition (in the Accounting Vocabulary)
The New York State Society of Certified Public Accountants offers the following definition of Going Concern in a way that is easy for anybody to understand: Assumption that a business can remain in operation long enough for all of its current plans to be carried out.
What is Going Concern?
A definition of going concern is: An enterprise which is being carried on as a whole, and with some particular object in view. More details on the Encyclopedia. The term refers to an existing solvent business, which is being conducted in the usual and ordinary way for which it was organized. More details on the Encyclopedia. When applied to a corporation, it means that it continues to transact its ordinary business. More details on the Encyclopedia. A firm or corporation which, though financially embarrassed, continues to transact its ordinary business.[1]
Resources
Notes
- “Going Concern” in the White America Dictionary (New York, Los Angeles, London, New Delhy, Hong Kong, 1989)
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