The correct answer is D. Going Concern Concept.
A. Matching Concepts is the accounting concept that requires expenses to be matched with the revenues they generate.
B. Dual Aspect Concepts is the accounting concept that states that every transaction has two aspects, a debit and a credit.
C. True and Fair Concepts is the accounting concept that requires financial statements to be presented in a way that is fair and accurate.
Going Concern Concept is the accounting concept that assumes that a business will continue to operate for the foreseeable future. This concept is important because it allows businesses to report their financial results on a going-concern basis, which is more meaningful to users of financial statements. However, if there is significant doubt about a business’s ability to continue as a going concern, the business must disclose this information in its financial statements.
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