Question

Business unit is separate and distinct from the person who supply capital to it, is
based on-------
a) Money Measurement Concept
b) Going Concern Concept
c) Business Entity Concept
d) Dual Aspect Concept​

Answer 1

Answer:

c)Business Entity Concept

Explanation:

Money measurement concept tells that, only the events or aspects that can be measured in terms of money will be recorded in the books of accounts.

For example, Money transactions will be recorded in the books of accounts while the talent of the accountant can't be recorded.

Going concern concept tells that, actually it's a assumption, which assumes that the business organization will run for a long period of time.

Dual aspect, also known as duality principle, tells that the books of accounts are prepared with two aspects, debit and credit aspect.

So, the answer to this question is Business entity principle which states Every business organizations are different from it's owner.

Hope it helps...

Answer 2

C) business entity concept