Question

Fill in the blanks by selecting correct words given in the bracket/brackets:
i. Going concern concept states that every business firm will continue to
carry on its activities ____________ (for a definite time period, for an
indefinite time period)
ii. Fixed assets are shown in the books at their ____________ (cost price,
market price)
iii. The concept that a business enterprise will not be closed down in the
near future is known as ____________ (going concern concept, money
measurement concept)
iv. On the basis of going concern concept, a business prepares its
____________ (financial statements, bank statement, cash statement)

Answer 1

Answer:

Explanation:

1)for a definite time

2)cost price

3)going concern cocept

4)financial statement

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