ASSEB Higher Secondary Accountancy Practice Questions - Assam ASSEB Higher Secondary Accountancy Examination (Class 11 & 12) Exam

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Why are fixed assets valued at historical cost less accumulated depreciation rather than their current market liquidation value in a standard Balance Sheet?

Because of the Materiality concept Because of the Going Concern concept Because of the Periodicity concept Because of the Realisation concept

Correct Answer:

Because of the Going Concern concept

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