Which of the following concepts assumes that a business will last indefinitely?
A)Business Entity
B)Going Concern
C)Periodicity
D)Consistency

Question

Quizplus · Accepted Answer

The "Going Concern" concept assumes that a business will continue to operate indefinitely, rather than being closed or sold. This assumption allows for the deferral of some expenses and revenues over multiple accounting periods, reflecting the ongoing nature of the business.

Which of the Following Concepts Assumes That a Business Will