Question

Define business entity concept???write it's implication????​

Answer 1

Explanation:

The business entity concept states that the transactions associated with a business must be separately recorded from those of its owners or other businesses. Doing so requires the use of separate accounting records for the organization that completely exclude the assets and liabilities of any other entity or the owner

Answer 2

Explanation:

The business entity concept states

that the transactions associated with a business must be separately

recorded from those of its owners

or other businesses. Doing so requires the use of separate accounting records for the organization that completely

exclude the assets and liabilities of any other entity or the owner.