Question

what is business entity????
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Answer 1

Explanation:

Business Entity:-

The concept of business entity says that a business is a separate entity from its owners. Therefore, for the objective of accounting, the firm and its owners are considered as 2 distinct persons.

Answer 2

Under the business entity concept, a business holds separate entity and distinct from its owners. " The entity view holds the business 'enterprise to be an institution in its own right separate and distinct from the parties who furnish the funds" An example is a sole trader or proprietorship.

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