Which of these is NOT identified as a most basic accounting concept?
A)Business entity
B)Costs and expenses
C)Going concern
D)Buy and sell

Name: Which of these is NOT identified as a most basic accounting concept? A)Business entity B)Costs and expenses C)Going concern D)Buy and sell
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Question

Quizplus · Accepted Answer

While buying and selling may be a part of accounting transactions, it is not considered a most basic accounting concept. The three most basic accounting concepts are business entity, going concern, and costs and expenses.

Which of These Is NOT Identified as a Most Basic