For accounting purposes, the business entity should be considered separate from its owners if the entity is
A) a corporation
B) a proprietorship
C) a partnership
D) any of these

Question

Quizplus · Accepted Answer

The business entity concept applies to all forms of business organizations, including corporations, proprietorships, and partnerships, meaning they should be considered separate from their owners for accounting purposes.

For Accounting Purposes, the Business Entity Should Be Considered Separate