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Question

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


  1. Consistency

  2. Accounting Period

  3. Money Measurement

  4. Going concern


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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