Question

As per structure of GAAP , accounting entity is considered as

Answer 1

Answer:

As per structure of GAAP , accounting entity is considered as ECONOMIC UNIT..

Explanation:

Answer 2

The answer is separate entity:

Explanation:

• Every business entity should be viewed as a separate entity from its owners, according to the Business Entity Assumption.

• GAAP are basic accounting principles and guidelines that serve as the foundation for more extensive and comprehensive accounting regulations, standards, and other industry-specific accounting practises.
• The Financial Accounting Rules Board (FASB), for example, uses these concepts as a foundation for developing its own accounting standards.