The accounting concepts which assumes that business will continue to be in existence into the foresee ablefure is

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The accounting concept that assumes that a business will continue to operate into the foreseeable future is called the "going concern" concept. This concept is based on the idea that a business will not be liquidated or cease operations in the near future, but rather will continue to operate and fulfill its obligations to its stakeholders. This assumption is important because it allows accountants to value assets, liabilities, and equity based on the assumption that the business will continue to operate. This makes it easier to prepare financial statements, which provide important information to investors, creditors, and other stakeholders about the financial health of the business. For example, if a business is assumed to be a going concern, its assets will be valued at their expected future use, rather than their liquidation value. This means that equipment and buildings, for example, will be valued at their expected useful life, rather than the amount they could be sold for if the business were to be liquidated. Overall, the going concern concept is an important assumption that helps ensure that financial statements accurately reflect the financial position and performance of a business.