The concept which states that the affairs of a business is to be treated as being separate from the private activities of the owner is

  • A Realization concept
  • B Business entity concept
  • C Cost concept
  • D Dual aspect concept
waec 2016accounting

The correct answer is B. Business entity concept

The business entity concept states that the transactions associated with a businessmust be separately recorded from those of its owners or other businesses.

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