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Which of the following is not an accounting concept?

Accounts - Principles of Accounts
WAEC 2002
Which of the following is not an accounting concept?
  • A. entity
  • B. going-concern
  • C. consistency
  • D. historical cost
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Correct Answer: Option 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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