O-LevelAccountingAccounting principles and policies7707/11 · Oct/Nov 2014 · Q291 Mark

'A business will continue to trade in the foreseeable future.' Which accounting principle is described by this statement?

Aaccounting entity

Baccruals (matching)

Cconsistency

Dgoing concern

✓ Correct answer

D: going concern

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2014 Paper 1 Variant 1, question 29.

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