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प्रश्न
According to the ______ Principle of accounting, transactions are recorded on the assumption that the business will exist for an indefinite period of time.
पर्याय
Business Entity Concept
Dual Aspect
Going Concern Concept
Money Measurement Concept
उत्तर
According to the Going Concern Concept Principle of accounting, transactions are recorded on the assumption that the business will exist for an indefinite period of time.
Explanation:
According to the going concern notion, it is believed that the company will continue to operate indefinitely, and this belief is also reflected in the way that transactions are documented.
APPEARS IN
संबंधित प्रश्न
Explain the Money Measurement Concept.
Justify the following:
Every transaction is recorded in at least three accounts.
Explain the concept of The Dual Aspect Principle.
______ is the language of business.
According to this principle, accounts should be prepared in such a way that all the material information required by users of financial statements is clearly disclosed.
"Firms live forever." Explain with reference to the concept of accounting.
Every transaction has two effects. (with reference to the concept of Accounting). Give a reason either for or against.
Write short note on Going Concern Concept.
Explain the complete disclosure principle.
"The principle of full disclosure and principle of materiality are contradictory." Comment.
