Question

Under ________________ Concept, the Life of the Business Is Infinite

Answer 1

1. Conservatism
2. Going Concern
3. Matching
4. Consistency

Answer

1. Going concern

The going concern concept states that a business firm will continue to carry out its operations for an indefinite period of time and would not be liquidated in the near future.

Also read:

• Going Concern Concept
• Conservatism Concept
• Consistency Principle

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