WAEC Accounting 2013 Objective — Question 39
Question 39 of 50 from the West African Examinations Council (WAEC) Accounting 2013 Objective paper, with the correct answer and a full explanation.
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When the going concern concept is no longer application, the fixed assets are recorded at their
- A. net book value
- B. realizable valueCorrect
- C. gross value
- D. revalued amount
Explanation
When the going concern concept of a business is no longer applicable, then assets will be recorded at their realizable value.
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