WAEC Accounting 2015 Objective — Question 32
Question 32 of 50 from the West African Examinations Council (WAEC) Accounting 2015 Objective paper, with the correct answer and a full explanation.
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The accounting concept that assumes that a business will continue operating for an indefinite period is
- A. business entity
- B. going concernCorrect
- C. consistency
- D. duality
Explanation
The going concern concept assumes a business will continue to operate indefinitely, regardless of the owner.
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