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What is a going concern?

What is a going concern? Here are some definitions.

Noun
  1. A working business; a flourishing or profitable enterprise.
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If the company is bound by what was done when it was a going concern, then the liquidator is in no better position.
A resolution was passed allowing its directors to be given the authority to sell the business as a going concern if necessary.
While the company is a going concern, separate legal personality can be said to guarantee limited liability.
But the company denied the businessman was going to take the company on as a going concern and said he was interested only in buying equipment.
However, the outfitters may close in the New Year if a buyer is not found to take on the business as a going concern.
Informed sources said they were hopeful that the company could be turned around as a going concern in the coming weeks.

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