The accounting concept that assumes a business will continue indefinitely is:

The concept of "Going Concern" refers to the assumption that a business will continue to operate indefinitely into the future, barring any unforeseen circumstances that could lead to its closure, such as bankruptcy or insolvency. This premise is foundational for financial reporting, as it influences how assets and liabilities are valued and presented in financial statements. If an organization is presumed to be a going concern, it prepares its financial statements based on the expectation it will continue its operations rather than liquidate. This impacts various accounting practices, including the valuation of assets, recognition of revenues, and classification of liabilities.

Understanding this concept helps in assessing the stability and viability of a business, making it crucial for stakeholders such as investors, creditors, and management when making informed decisions. In the context of financial audits and evaluations, identifying going concern issues can signal potential risks that need to be addressed, thus playing an essential role in maintaining transparency and trust in financial reporting.