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Subjects / LC Accounting / Conceptual and Regulatory Framework

Accounting concepts and conventions

Explain and apply the main accounting concepts (going concern, accruals, consistency, prudence, entity, materiality and others) and the qualities of useful accounting information.

5th Year6th Year HigherOrdinary
16practice questions

Match the pairs: 1 · Multiple choice: 15

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Multiple choice
Which term matches this description? "The assumption that the business will continue trading for the foreseeable future."
Choose one answer
Hint 1

Think about the accounting concepts conventions terms you have studied.

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