"Distinction should be made between the personal transactions of owner and those of entity." Which of the following is the accounting concept defined in the paragraph? Select one: a. Going Concern O b. Dual Aspect O c. Business Entity O d. none of the option

"Distinction should be made between the personal transactions of owner and those of entity." Which of the following is the accounting concept defined in the paragraph? Select one: a. Going Concern O b. Dual Aspect O c. Business Entity O d. none of the option

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 1MC: That a business may only report activities on financial statements that are specifically related to...

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Question

"Distinction should be made between
the personal transactions of owner and
those of entity." Which of the following
is the accounting concept defined in the
paragraph?
Select one:
a. Going Concern
b. Dual Aspect
O c. Business Entity
O d. none of the option

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