Advertisements
Advertisements
Question
The concept which assumes that a business will last indefinitely is ____________.
Options
Business Entity
Going concern
Periodicity
Conservatism
Solution
The concept which assumes that a business will last indefinitely is Going concern.
APPEARS IN
RELATED QUESTIONS
The business is liable to the proprietor of the business in respect of capital introduced by the person according to ________.
GAAPs are ___________
The rule of stock valuation ‘cost price or realisable value’ whichever is lower is based on the accounting principle of ________.
Briefly explain about realisation concept.
What is “Full Disclosure Principle” of accounting.
Write a brief note on ‘Consistency’ assumption.
Why should a business concern follow the matching concept?
What is the matching concept?
“Only monetary transactions are recorded in accounting”. Explain the statement.
“Business units last indefinitely”. Mention and explain the concept on which the statement is based.
