giorgio10

Just repeating what SFR said.
If returns generated by the firm in a going concern assumption are continuously less than their WACC, then the firm is actually depleting investors’ wealth.
If this is the case, then going concern value MAY be less than its liquidation value. Since, in the question, it is saying ALWAYS greater than the liquidation value, it becomes a weak choice as an answer.
Generally, whenever we see words like ‘ALWAYS’, ‘ONLY’ etc in the question or in choices, we should become more cautious in going for the generally known answer.