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Question Practice

What does the business entity concept imply?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Theory Base of Accounting
Question Bank

What does the business entity ...

Single Answer MCQ
Q-00053822

What does the business entity concept imply?

1

Business and owners are the same

2

Business is a separate legal entity from its owners

3

Personal assets of owners are part of the business

4

All transactions are recorded at market value

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