The going concern assumption is a fundamental concept in accounting that assumes a business will continue to operate indefinitely. Here's how it relates to each of the given options:

1. The business is just starting up: Even if a business is just starting up, the going concern assumption is still appropriate. It assumes that the business will continue to operate into the foreseeable future.

2. Liquidation appears likely: This is the correct answer. If liquidation appears likely, the going concern assumption is inappropriate. In this case, the business is not expected to continue operating in the foreseeable future.

3. Market values are higher than costs: The going concern assumption is still appropriate in this case. The assumption is about the business's ability to continue operating, not about the relationship between market values and costs.

4. The business is organised as a sole trader: The going concern assumption is still appropriate in this case. The form of business organization (sole trader, partnership, corporation, etc.) does not affect the going concern assumption.

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The going concern assumption is a fundamental concept in accounting that assumes a business will continue to operate indefinitely. Here's how it relates to each of the given options:

1. The business is just starting up: Even if a business is just starting up, the going concern assumption is still appropriate. It assumes that the business will continue to operate into the foreseeable future.

2. Liquidation appears likely: This is the correct answer. If liquidation appears likely, the going concern assumption is inappropriate. In this case, the business is not expected to continue operating in the foreseeable future.

3. Market values are higher than costs: The going concern assumption is still appropriate in this case. The assumption is about the business's ability to continue operating, not about the relationship between market values and costs.

4. The business is organised as a sole trader: The going concern assumption is still appropriate in this case. The form of business organization (sole trader, partnership, corporation, etc.) does not affect the going concern assumption.

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The going concern assumption is a fundamental concept in accounting that assumes a business will continue to operate indefinitely. Here's how it relates to each of the given options:

1. The business is just starting up: Even if a business is just starting up, the going concern assumption is still appropriate. It assumes that the business will continue to operate into the foreseeable future.

2. Liquidation appears likely: This is the correct answer. If liquidation appears likely, the going concern assumption is inappropriate. In this case, the business is not expected to continue operating in the foreseeable future.

3. Market values are higher than costs: The going concern assumption is still appropriate in this case. The assumption is about the business's ability to continue operating, not about the relationship between market values and costs.

4. The business is organised as a sole trader: The going concern assumption is still appropriate in this case. The form of business organization (sole trader, partnership, corporation, etc.) does not affect the going concern assumption.

The going concern assumption is inappropriate when: Group of answer choices the business is just starting up. liquidation appears likely. market values are higher than costs. the business is organised as a sole trader.

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