Q.The concept which assumes that a business will last indefinitely is :

The assumption that a business will continue indefinitely is the Going Concern concept, so the correct answer is option (d).

In the Tamil Nadu HSC Class-11 Accountancy syllabus:

• Going Concern concept — assumes the enterprise will continue to operate for an indefinite (foreseeable) period and has no intention of closing down. This is why fixed assets are recorded at cost and depreciated over their useful life rather than at break-up (sale) value.
• Periodicity concept — divides the indefinite life into fixed accounting periods. …

The going concern concept assumes a business will continue to operate indefinitely, so its assets are recorded and carried on a continuing-use basis.

The going concern concept presumes that an enterprise will keep running its operations for the foreseeable future and has neither the intention nor the necessity to close down or curtail its activities. Because of this assumption:

• Fixed assets are recorded at cost and depreciated over their useful life rather than at break-up (liquidation) value.
• Expenses are split into capital and revenue portions across accounting periods. …