The concept that implies that a business will operate for...
The concept that implies that a business will operate for an indefinitely long period of time is...............
Going concern concept
Accrual concept
Business entity concept
Periodicity concept
Correct answer is A
The going concern concept is an accounting term that states that a business entity will continue running its operations in the foreseeable future and will not be liquidated or forced to discontinue operations for any reason.
Use the following information to answer the given question. \(\begin{array}{c|c} \text{Net prof...
Another name for control accounts is ...
The effect of the payment of liability is that it ...
Discount received is charge to ...
\(\begin{array}{c|c} & N \\ \hline \text{Fixed assets} & 12,000 \\ \text{Current assets} &am...