Question

What value is involved in following the concept of separate entity?​

Answer 1

Answer:

he separate entity assumption states that the transactions conducted by a business are separate to those conducted by its owners. For example, if a business owner bought an asset for their personal use, the asset is not the property of the business.

Explanation:

Answer 2

Explanation:

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.