Assets of one year are carried forward to the next year due to which concept ........

General Accounting Principles Concepts of Accounting

Download Solution PDF

Assets of one year are carried forward to the next year due to which concept

Going concern concept

Realisation concept

Money measurement concept

Accrual Concept

छोटे Courses बड़े Results

Master Concepts of Accounting

Prepare through Micro-courses

Try Now

Explanation:

The going concern concept of accounting implies that the business entity will continue its operations in the future and will not liquidate or be forced to discontinue operations due to any reason. So, the assets of one year are taken to the next year due to the basic assumption that the business will continue.