According to which concept the owner of the business is considered creditor of the business
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Answer:
Business Entity Concept
Explanation:
According to this concept business and owner are different and are kept separate from each other. And that's the reason the capital contributed by the owner is considered to be a liability for the firm and so is shown on the liabilities side of the balance sheet. Hence, is considered as the creditor as he/she is paid back by giving a perfect share of profit.
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