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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
Explain the Business Entity Concept.
GAAP stands for ______.
On the basis of this concept, only those transactions are recorded in accounts which can be expressed in terms of money.
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.
Accounts should disclose all material information (with reference to the concept of accounting). Justify either for or against by giving two reasons.
Explain the money measurement principle of accounting.
Explain any two basic concepts of accounting.
Explain matching principle of accounting.
Explain the expense principle.
Explain the principle of consistency.
