The accounting concept that assumes that a business will ...
The accounting concept that assumes that a business will continue operating for an indefinite period is
Business entity
Going concern
Consistency
Duality
Correct answer is B
The going concern concept of accounting implies that the business entity will continue its operations in the future and will not liquidate or be forced to discontinue operations due to any reason.
The double entry for refund of unsuccessful application monies is debit ...
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\(\begin{array}{c|c} & \text{1/6/2011} & \text{30/5/2012}\\ & D & D \\ \hline \text{...
Given: Fixed assets Liabilities Current assets ₦ 55,000 20...