Accountancy, asked by suhanihotwani2005, 6 months ago

Business is considered distinct from its owner .identify the accounting principles

Answers

Answered by yashraj10000
1

Answer:

For all accounting purposes, the business is considered to be a separate entity, distinct from its owner. The transactions of business are recorded in books of accounts of the business and the position of owner in his own books is like a creditor.

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