The accounting concept underlying the treatment of personal expenses of the business owner as drawing is?

By: |Published on: Mar 20|Categories: Accounting WAEC| 0 comments

A. periodicity
B. accrual
C. entity
D. materiality

Correct Answer: Option C

C. entity

Explanation

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

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