The businessman always sees the business running for an indefinite period. What is this concept called?

Consistency

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Money Measurement

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Accounting Period

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Going concern

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Solution

The correct option is D
Going concern

The concept which assumes that a business would survive for an indefinite period is called the Going concern concept. From big businesses to the vegetable sellers, all business owners are optimistic that their businesses will run for a long period of time in future.

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Similar questions

The concept that assumes that a business would survive for an infinite time is called 'Going concern'.

What is the matching concept? Why should a business concern follow this concept? Discuss.

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