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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.
पर्याय
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
This principle suggests that every debit has a corresponding and equal credit.
What is business entity concept of accounting?
With reference to the concept of accounting only those transactions are recorded in accounts which can be expressed in terms of money. Justify either for or against.
Discuss in brief the basic principles of accounting.
Explain matching principle of accounting.
Write short note on the going concern concept.
Why are Generally Accepted Accounting Principles (GAAP) needed?
Explain the realisation principle.
Name any four concepts of GAAP.
“The principle of full disclosure and principle of materiality are contradictory.” Comment.
