Question

Accounting entity concept is also known as?​

Answer 1

Answer:

The business entity concept (also known as separate entity and economic entity concept) states that the transactions related to a business must be recorded separately from those of its owners and any other business.

Answer 2

Question:

Accounting entity concept is also known as?

Answer:

The accounting entity concept (or entity concept or separate entity concept) is the principle that financial records are prepared for a distinct unit or entity regarded as separate from the individuals that own it.