Answer / arun kumar

according to this concept business is treated as seprate
person or entity, based on this concept captial is treated
as liability to the business, based on this concept we pay
intrest on captial

Answer / vm

business entity concept explains that business is purely a
different entity...It has separate legal existence of its
own.

Answer / jagadish reddy

this concept says that"business entity is a
separate identity apart from its owner.
business transactions are recorded in
business accounts & his personal
transactions are recorded in his personal
book of accounts.

Answer / sravan

According to this Concept
Business is different from Person(Owner).
This Concept will create Separate Status to Business.

Answer / devi

According to this concept, it should be noted that only business transactions should be taken into the account. Personal transactions should not be clubbed into this. eg: Proprietor's Insurance Premium. This premium is a life of the proprietor's and it is completely personal so it comes under "Drawings" account.

What is Contra entry?

12 Answers  

EXPAND___________NBFCS

0 Answers  

Can v transfer trail balance to journal entry how and with example?

0 Answers   Bandhi, iQor, OPI Global,

can any one tell me the Types of accounts in practise

5 Answers  

what is purchase tax in rajasthan.

0 Answers  

"while Financial accounting is external, cost accouting is internal to the business" Explain?

1 Answers   Deloitte,

What will be the consequences if the partnership is not registered

0 Answers  

Expand ________DDO

1 Answers  

Expand ________AAR

1 Answers  

Hi, I attended an interview recently for the post of Accountant, where I underwent a account test. Now I got selected for the second round interview. I am sure that in the interview, they will review my test result. If I had made some mistakes in the test, how should I answer them?

4 Answers  

Explain Central Excise Duty?

1 Answers  

accounting rules

2 Answers