Selling a Business as a going concern does not have a set definition but rather it is determined according to a factual test. A business is therefore sold as a going concern when after it is sold it remains largely the same as it was before it was sold. There is no definitive factor to determine this and as such must be determined on a case by case basis.
Selling a Business as a going concern does not have a set definition but rather it is determined according to a factual test. A business is therefore sold as a going concern when after it is sold it remains largely the same as it was before it was sold. There is no definitive factor to determine this and as such must be determined on a case by case basis.
