Day: November 26, 2021

Businesses anticipate losses but not profits in preparing their annual accounts.

Which accounting concept is being applied here?

Select ONE answer:

1. accruals
2. consistency
3. going concern
4. prudence

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Not correct
2. Not Correct
3. Not correct
4. Correct

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