Waec Model Questions Vol1 2022 Financial Accounting Question 34

Practice objective / multiple choice question 34 from the 2022 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2022 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 34 WAEC_MODEL_QUESTIONS_VOL1 • 2022 • FINANCIAL_ACCOUNTING • objective

State the fundamental accounting assumption that requires financial statements to be prepared on the basis that the business will continue its operations for the foreseeable future.

Answer Options

A. Accrual basis assumption
Correct Answer B. Going concern assumption
C. Monetary unit assumption
D. Historical cost assumption
Correct Answer
B
Correct Option:
Going concern assumption

About This Question

This is Waec Model Questions Vol1 2022 Financial Accounting Question 34. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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