Answered: The concept that business is assumed to…

The concept that business is assumed to exist for an indefinite period and is not established with the objective of closing down is referred to

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The concept that business is assumed to exist for an indefinite period and is not established with the objective of closing down is referred to as

a.Money Measurement concept

Ob Going Concern concept

C Full Disclosure concept

Od. Dual Aspect concept

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