Question

Ajit, a proprietor of Prashar Tools Store withdraws 50,000 for meeting educational   
       expenses of his son Saksham. This was shown as an expense of the business.  
       Which of the following concept is violated ?                                                     (1)

Business Entity Concept                 b) Money Measurement Concept

Going Concern Concept                 d) Revenue Recognition Concept

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Answer 1

Answer:

Business entity concept

Explanation:

Because according to the business entity concept identity of business and business men is different

Answer 2

Answer:

Business Entity concept

Explanation:

because business and businessman have separate entity.. This expense is Drawing which is not related business .

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