WAEC Accounting 2018 Objective — Question 18
Question 18 of 50 from the West African Examinations Council (WAEC) Accounting 2018 Objective paper, with the correct answer and a full explanation.
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The concept that implies that a business will operate for an indefinitely long period of time is
- A. accrual concept
- B. going concern conceptCorrect
- C. business entity concept
- D. periodicity concept
Explanation
The going concern concept assumes the business will continue operating indefinitely into the future.
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