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Accounting Principles: Entità

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    FAISAL A.
    YE
    FAISAL A.

    What does entity stands for in accounting Princibles?

    Gabriel O.
    ML
    Gabriel O.

    Entity concepts demand that business be accounted for seperately from the owner. personal and business are kept apart, or better put, business are trated seprately from owner.

    Wendy C.
    AU
    Wendy C.

    Entity Recognises that the business, from an accounting viewpoint, is separate from the owner therefore personal acquisitions may not be included in the businesses financial records.

    Samuel F.
    ZA
    Samuel F.

    what is a separate entity?

    Mohamed A.
    EG
    Mohamed A.

    yes

    Harrison A.
    AT
    Harrison A.

    Business entity concept /principle requires every business to be accounted for seperately from the owner . personal and business-related transactions are kept apart from each other. In other words, the seperate personal transactions of owners and others are not commingled with the reporting of the economic activity of the business . One of the first recomendations almost all accountants tell a client is to at least establish a business checking account and use it to only record their business transactions

    Zachary B.
    US
    Zachary B.

    What are entity accounting principles?

    Ella Rose M.
    MY
    Ella Rose M.

    it will be rather suspicious and one could always assume loss or fraud if in breach of undisclosed entity

    Caroline Monica M.
    MW
    Caroline Monica M.

    How does the owner of business come in, in terms of benefiting from the entity as a share holder?

    Diamond T.
    US
    Diamond T.

    What does entity stands for in accounting Princibles?

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