Advertisements
Advertisements
प्रश्न
This concept assumes that the business will continue to exist for a long time in the future.
विकल्प
Money measurement concept
Going concern concept
Business entity concept
Realisation concept
Advertisements
उत्तर
Going concern concept
Explanation:
The going concern concept assumes that a business will continue to operate indefinitely and will not be forced to cease operations or liquidate its assets in the foreseeable future. This concept underlies the preparation of financial statements, allowing for the deferral of certain expenses and the recognition of revenues over multiple periods.
APPEARS IN
संबंधित प्रश्न
According to the ______ Principle of accounting, transactions are recorded on the assumption that the business will exist for an indefinite period of time.
Justify the following:
Every transaction is recorded in at least three accounts.
GAAP stands for ______.
Accounting principles are necessary due to which of the following reasons?
On the basis of this concept, only those transactions are recorded in accounts which can be expressed in terms of money.
Name the basic principles of accounting.
Explain matching principle of accounting.
Write short note on the going concern concept.
Explain the expense principle.
Explain the principle of consistency.
