About Going Concern Concept:
1) It assumes that the business will continue its operations for a foreseeable future.
2) Assets are always recorded and shown in balance sheets at their current market value rather than historical cost. Correct statement 👇

Regarding Deferred Revenue Expenditure:
1) It is a revenue expenditure in nature, but its benefit extends over more than one accounting period.
2) Heavy expenditure incurred on advertising a new product launch is an example of deferred revenue expenditure

About the Accrual Basis of Accounting:
1) Revenue is recognized when cash is actually received from customers.
2)Expenses are matched against revenues of the period in which they helped generate those revenues.

Regarding the Prudence (Conservatism) Principle:
1) It mandates that all prospective profits should be recorded in advance, but potential losses should be ignored.
2) Creation of a Provision for Bad and Doubtful Debts is based on this convention.