Question
The concept of 'separate entity' is applicable to which of the following types of businesses?
Answer: Option D
Ownership in business entities can be a sole proprietorship, partnership, or corporation. From the accounting perspective and its purpose these types of business are considered separate entities from their owners. The corporation is only one considered as a separate legal entity.
Was this answer helpful ?
Ownership in business entities can be a sole proprietorship, partnership, or corporation. From the accounting perspective and its purpose these types of business are considered separate entities from their owners. The corporation is only one considered as a separate legal entity.
Was this answer helpful ?
More Questions on This Topic :
Question 6. Errors are _____ mistakes....
Question 7. Accommodation bill is drawn....
Question 8. Rs.5000 spent on maintenance of computer is....
Question 10. Parties to a bill of exchange are....
Latest Videos
Latest Test Papers
Submit Solution