“Business is a separate entity from its owners”, it refers to which of the following concepts?

According to this concept, business and businessman are two separate entities. Hence, the capital as well as drawings by the businessman should be properly recorded in the books of accounts. Matching concept states that the revenues of a particular period should be matched to the expenses incurred in that period in order to find out true profits. Accrual concept is concerned with recording cash as well as non-cash expenses and revenues in the books of accounting in order to find out true profits. Going concern concept states that business is assumed to exist for a long period of time.