O-LevelAccountingAccounting principles and policies7707/11 · May/June 2019 · Q291 Mark

A business prepares its accounts on the basis that it will continue to trade in the foreseeable future. Which accounting principle is being applied?

Aaccounting entity

Baccounting year

Cgoing concern

Dmatching/accruals

✓ Correct answer

A: accounting entity

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2019 Paper 1 Variant 1, question 29.

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