accounting assumption that expects a business to continue in life indefinitely; also called going concern. It is the basis for using historical cost to value accounts rather than liquidation value since the company will remain in existence. SAS Number 59 deals with the auditor's consideration of an entity's ability to continue as a going concern. The auditor must appraise if significant doubt exists of a client's ability to continue as a going concern for a period not exceeding one year after the date of the financial statements. If significant doubt exists, there should be a separate explanatory paragraph of a going concern problem after the unqualified opinion paragraph.
existence of a similar theme throughout an advertising or marketing campaign; also length of uninterrupted media schedules.
Advertising:
- script for a television commercial.
- use of a consistent theme throughout a promotional campaign.
- continuous, consistent use of an advertising media plan. See also continuity advertising.
Direct marketing: type of sale that comprises a series of sales made over time. A closed-end continuity has a definite number of items to be delivered to the buyer. An open-end continuity has no fixed number of shipments and will continue until the buyer is canceled for nonpayment or withdraws from the continuity program. Examples: Encyclopedias are usually sold as closed-end continuities; cookbooks are frequently sold as open-end continuities. Continuity subscribers can stop buying at any time, unlike club members, who must fulfill a member commitmentprior to canceling. However, open-end continuity buyers are much more likely to cancel.
