WAEC - Accounts Principles Of Accounts (2018 - No. 18)
The concept that implies that a business will operate for an indefinitely long period of time is...............
going concern concept
accrual concept
business entity concept
periodicity concept
Explanation
The going concern concept is an accounting term that states that a business entity will continue running its operations in the foreseeable future and will not be liquidated or forced to discontinue operations for any reason.
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