The ________ justifies the use of depreciation on buildings.
A) economic entity concept
B) monetary unit assumption
C) going concern concept
D) historical cost assumption

Question

Quizplus · Accepted Answer

The going concern concept justifies depreciation as it assumes that a business will continue to operate indefinitely, allowing for the allocation of the cost of buildings over their useful life.

The ________ Justifies the Use of Depreciation on Buildings