a.
Introduction
The concept of accounting entity refers to those entities for which separate set of records are maintained for accounting. These entities should indulge in identifiable activities and must be divided from the personal transactions with its officers.
To explain:If accounting entity concept is applicable on units created by or under law.
b.
Concept introduction
The concept of accounting entity refers to those entities for which separate set of records are maintained for accounting. These entities should indulge in identifiable activities and must be divided from the personal transactions with its officers.
To explain:If accounting entity concept is applicable onthe product line segment of an enterprise.
c.
Concept introduction
The concept of accounting entity refers to those entities for which separate set of records are maintained for accounting. These entities should indulge in identifiable activities and must be divided from the personal transactions with its officers.
To explain:If accounting entity concept is applicable on the combination of legal units of a company.
d.
Concept introduction
The concept of accounting entity refers to those entities for which separate set of records are maintained for accounting. These entities should indulge in identifiable activities and must be divided from the personal transactions with its officers
To explain:If accounting entity concept is applicable on all theactivities of an owner or group of the company.
e.
Concept introduction
The concept of accounting entity refers to those entities for which separate set of records are maintained for accounting. These entities should indulge in identifiable activities and must be divided from the personal transactions with its officers.
To explain:If accounting entity concept is applicable on the economy ofUnited States.
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