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  • Theoretical Framework of Accounting
  • “Business unit is separate and distinct from the person w...
Multiple choice

“Business unit is separate and distinct from the person who supplies capital to it”, is based on

  1. money measurement concept

  2. going concern concept

  3. separate entity concept

  4. dual aspect concept

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

As per the separate entity concept, business and its owner both are separate entities.

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