Going Concern

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

Browse or run a search for Going Concern in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

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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Related topics Going Concern in the World Encyclopedia of Law


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]



  1. “Going Concern” in the White America Dictionary (New York, Los Angeles, London, New Delhy, Hong Kong, 1989)

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