The concept that implies that a business will operate for...
The concept that implies that a business will operate for an indefinitely long period of time is...............
Going concern concept
Accrual concept
Business entity concept
Periodicity concept
Correct answer is A
The going concern concept is an accounting term that states that a business entity will continue running its operations in the foreseeable future and will not be liquidated or forced to discontinue operations for any reason.
Clifford pays rent of N200 per month for premises, He paid N2,800 within the year. Compute the ...
Impersonal account is subdivided into ...
An item credited in the bank statement but yet to be recorded in the firm's cash book is ...
A reduction n price to encourage prompt payment is........ ...
Which of the following accounts has a credit balance? ...
The income and expenditure account of a club is the same as ...
Balance sheet (Extract) Creditors #7,940 Prepaid expenses #290 Accrual expenses #323 Stock #4,...