Question 19 1 pts The relationship between the 'Going Concern' principle and the need for balance day adjustments can be best explained as O The Going Concern principle assumes the life of the business will be ongoing and indefinite. Many balance day adjustments recognise an asset or liability to be carried forward to a future period. O The Going Concern principle does assume the life of the business will be ongoing and indefinite. Many balance day adjustments recognise an asset or liability do not get carried forward to a future period. The focus of the balance day adjustment is on profit determination in the reporting period. O The Going Concern principle does not assume the life of the business will be ongoing and indefinite. Many balance day adjustments recognise an asset or liability do get carried forward to a future period. O The Going Concern principle does not assume the life of the business will be ongoing and indefinite. Many balance day adjustments recognise an asset or liability do not get carried forward to a future period. The focus of the balance day adjustment is on profit determination in the reporting period.