New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    Which concept states that a business is separate from

    its owner?
    A Going Concern Concept Correct Answer Incorrect Answer
    B Money Measurement Concept Correct Answer Incorrect Answer
    C Dual Aspect Concept Correct Answer Incorrect Answer
    D Business Entity Concept Correct Answer Incorrect Answer

    Solution

    Explanation: •The Business Entity Concept treats the business as separate from its owner. •The owner’s personal transactions should not be mixed with business transactions.

    Practice Next

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