Answer:
A firm will continue to be in business for the foreseeable future (A)
Explanation:
According to the accounting concept, a firm is a going concern if its financial statement (i.e Income Statement, Cash flow Statement and Statement of financial position ) and other relevant indicators show that it has the ability to continue in the business in the next 12 months (foreseeable future) and there is no intention to shut-down .
However, if there are indicators that show that the firm can't continue in the operation for the next 12 months, its financial statement should be prepared on break-up basis.
