WORKING ASSET STATEMENT Definition

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WORKING ASSET STATEMENT is a net worth statement minus any personal assets, the car, house, boat, etc. A working asset statement will give a clear picture of an individuals invested assets.

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GOING CONCERN CONCEPT is the underlying assumption that any accountant makes when he prepares a set of accounts. That the business under consideration will remain in existence for the foreseeable future.

ABNORMAL LOSS see NORMAL LOSS.

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