Question

Hey Sourav here....... What is Business Entity Concepts?
(Don't need copied)​

Answer 1

In accounting, a business or an organization and its owners are treated as two separately identifiable parties. This is called the entity concept. The business stands apart from other organizations as a separate economic unit.

Answer 2

HERE IS YOUR ANSWER SOURAV

The business entity concept states that the transactions associated with a business must be separately recorded from those of its owners or other businesses. Doing so requires the use of separate accounting records for the organization that completely exclude the assets and liabilities of any other entity or the owner.