- 1 Marks
Question
Which of the following does not belong to the group?
A. Going concern concept
B. Realisation concept
C. Matching concept
D. Entity concept
E. Profitability concept
Answer
E. Profitability concept
Explanation: Profitability is not a fundamental accounting concept like the going concern, realisation, matching, and entity concepts. Profitability is an outcome or result, not a principle that governs how transactions are recorded or presented. The other options are core accounting concepts that guide financial reporting.
- Tags: Accounting Concepts, Fundamental Principles
- Level: Level 1
- Topic: Accounting Concepts
- Series: NOV 2011
- Uploader: Theophilus