According to _________ concept it is assumed that the business will last for long time

Related MCQs

• The basic principles of ____ concept is that business is assumed to exist for an indefinite period
• 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
• It is generally assumed that the business will not liquidate in the near foreseeable future because of
• Goodwill is to be calculated at one and half year’ purchase of average profit of last 5 years. The firm earned profits during 3 years as ₹ 20,000 ₹ 18,000 and ₹ 9,000 and suffered losses of ₹ 2,000 and ₹5,000 in last 2 years. The amount of goodwill will be
• Asset acquired for long period of time in the business is known as ___________
• According to which concept, proprietor of a business is treated as a creditors to the extent of his capital
• According to the money measurement concept, the following will be recorded in the books of account of the business:
• Which of the following concepts assumes that a business will last indefinitely?
• Which of the following is true statement for computerised accounting system? a. the computer accounting system is based on the concept of database. b. Computer accounting system does not away with the concept of creating and maintaining journals, ledger etc.
• The business will continue to operate for an indefinitely long period in the future, unless there is a good evidence to the contrary this assumption is related to