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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
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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.
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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.
Explain the Money Measurement Concept.
Define the term GAAP.
GAAP stands for ______.
On the basis of this concept, only those transactions are recorded in accounts which can be expressed in terms of money.
It is due to this concept that financial statements are prepared at regular intervals, generally one year.
"Firms live forever." Explain with reference to the concept of accounting.
Explain 'Matching Concept' of GAAP.
Explain the complete disclosure principle.
"The principle of full disclosure and principle of materiality are contradictory." Comment.
