Question

14. d) The concept which states that business operations will continue for ever
i) Solvent concept
ii) Going Concern concept
iii) Cost concept​

Answer 1

Answer:

Hey your answer is

2) going concern concept

Explanation:

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Answer 2

ANSWER :

★ (ii) Going Concern Concept

• ➺ The concept which states that business operations will continue for ever is Going Concern Concept.

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EXPLANATION :

❒ Going Concern Concept :-

• ➯ According to the Going Concern Concept, while recording business transactions in the books of accounts, it is assumed that the business will be carried on for a long time to carry out its objectives.

• ➯ The Going Concern Concept simply states that in the foreseeable future the business will not be liquidated or closed down.

• ➯ The Going Concern Concept doesn't imply that the business entity is perpetual or immortal.

• ➯ On the basis of the Going Concern Concept, accounts of an entity are carried forward to the following year on the presumption that the business will be carried out in the years to come.