Neco 2021 Financial Accounting Question 45

Practice objective / multiple choice question 45 from the 2021 Neco Financial Accounting examination.

Neco 2021 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 45 NECO • 2021 • FINANCIAL_ACCOUNTING • objective

During the year a company decided to continue operating despite a temporary loss in one of its divisions, expecting the division to become profitable in the future. Which accounting principle is being applied?

Answer Options

A. Historical cost concept
B. Conservatism principle
C. Revenue recognition principle
Correct Answer D. Going Concern concept
Correct Answer
D
Correct Option:
Going Concern concept

About This Question

This is Neco 2021 Financial Accounting Question 45. It is one of the objective questions from the 2021 Neco Financial Accounting examination.

Difficulty level: Easy .

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