A distinction should be made between the business transaction and the personal transactions of the proprietor.‟ Explain the assumption behind this statement.
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Answer:
business entity concept.
Explanation:
As per this concept business organisations are treated as a separate entity which can be distinguished from the owners for stakeholders who provide capital to it . this concept helps in keeping private affairs of the owners and stakeholders separate from the business affairs.
pritimathur02:
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