The ________ justifies the use of accrual accounting.
A) historical cost concept
B) going concern concept
C) monetary unit assumption
D) business entity concept

Question

Quizplus · Accepted Answer

The going concern concept justifies the use of accrual accounting as it assumes that a business will continue to operate indefinitely, allowing revenues and expenses to be recognized when they are incurred, rather than when cash is exchanged.

The ________ Justifies the Use of Accrual Accounting