CA Foundation Concepts — practice questions

Explore 1 free Concepts questions in CA Foundation Accountancy. Open each question or exercise to read its content, reference answers and available explanation.

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Concepts questions and exercises with answers

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The going-concern concept assumes that the businessRead the answer and worked solution →

Worked practice questions

The going-concern concept assumes that the business

has unlimited cash
pays no taxes
will continue to operate for the foreseeable future
will close within a year

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Correct answer: C. will continue to operate for the foreseeable future

Going concern: the entity will continue operating indefinitely, which justifies recording assets at cost and depreciating them.

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