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प्रश्न
This concept assumes that the business will continue to exist for a long time in the future.
पर्याय
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
What does GAAP stand for in Accounting?
Explain the concept of The Dual Aspect Principle.
GAAP stands for ______.
Accounting principles are necessary due to which of the following reasons?
"The capital provided by the owner is treated as a liability of the firm." Explain the concept on which the above depends.
Explain matching principle of accounting.
Explain the Dual Aspect Principle.
Explain Accounting Period Concept.
Write short note on the going concern concept.
Explain the realisation principle.
