Accumulated profit is shown as a liability in the balance sheet. Which accounting concept is behind such a treatment?
A. Going concern
B. Business entity (Correct)
C. Accrual
D. Accounting period
Accumulated profit is shown as a liability in the balance sheet. Which accounting concept is behind such a treatment?
A. Going concern
B. Business entity (Correct)
C. Accrual
D. Accounting period