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Why is continuity assumption so important for balance sheet

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Reference no: EM13845929

Why is the continuity assumption so important for balance sheet reporting?

Reference no: EM13845929

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Why is continuity assumption so important for balance sheet : Why is the continuity assumption so important for balance sheet reporting?
Compute cash-basis net income : Primo Industries also paid $72,000 for expenses in 2014. Of the amount paid, $30,000 was for expenses incurred on account in 2013. In addition, Primo incurred $42,000 of expenses in 2014, which will not be paid until 2015.
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