CBSE Class 11-commerce Answered
business entity concept
Asked by rajputritika1014 | 03 Oct, 2020, 05:17: PM
Expert Answer
The business entity concept states that the business is separate from the owner(s) of the business. Therefore the accounting records for even the simplest business, the sole trader, must be kept separate from the personal affairs of the owner or owners
Answered by Renu Varma | 05 Oct, 2020, 12:53: PM
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