Which of the following is not an accounting concept?

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Accounts - Principles of Accounts WAEC 2002

Which of the following is not an accounting concept?

  • entity
  • going-concern
  • consistency
  • historical cost checkmark

The correct answer is: D

Explanation

The following are types of accounting concept; Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Duality Aspect concept, Realisation Concept, Accrual Concept and Matching Concept
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