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Title: Section 442.3 - Continuity of activity

442.3 Continuity of activity. (1120) A basic reporting concept is that of continuity of activity, or the going concern. The assumption is that the hospital will continue to function indefinitely. It then becomes necessary to divide the life of the hospital into reporting periods, to determine revenues earned and expenses incurred during each period and to measure the amounts of assets and obligations at the end of each period.


VOLUME C (Title 10)