Question on: WAEC Accounting - 2015
The accounting concept that states that a firm's financial affairs must be separated from that of the owner's private transactions is
A
Business entity
B
Going concern
C
Consistency
D
Duality
Ask EduPadi AI for a detailed answer
Correct Option: A
The business entity concept states that the transactions associated with abusiness must be separately recorded from those of its owners or otherbusinesses.
Add your answer
Please share this, thanks!
No responses