Which of the following concepts states that a business will continue its operations for the foreseeable future and the company will not be forced to liquidate in the near future? a. Accrual basis b. Materiality c. Consistency concept d. Going concern
Which of the following concepts states that a business will continue its operations for the foreseeable future and the company will not be forced to liquidate in the near future? a. Accrual basis b. Materiality c. Consistency concept d. Going concern
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 4MC: Which of the following terms is used when assuming a business will continue to operate in the...
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Which of the following concepts states that a business will continue its operations for the foreseeable future and the company will not be forced to liquidate in the near future?
a.
Accrual basis
b.
Materiality
c.
Consistency concept
d.
Going concern
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