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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.
विकल्प
Business Entity Concept
Dual Aspect
Going Concern Concept
Money Measurement Concept
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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.
संबंधित प्रश्न
The retirement of manager of the company cannot be recorded in the book of accounts, because it is not possible to estimate the financial effect of retirement. Which accounting principle would be applicable for the above statement?
It is due to this concept that financial statements are prepared at regular intervals, generally one year.
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.
Name the basic principles of accounting.
"The capital provided by the owner is treated as a liability of the firm." Explain the concept on which the above depends.
Explain the money measurement principle of accounting.
Explain the Dual Aspect Principle.
Explain Accounting Period Concept.
Explain the complete disclosure principle.
“The principle of full disclosure and principle of materiality are contradictory.” Comment.
