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Recording of Capital contributed by the owner as liability ensures the adherence of principle of ...

(a) Double Entry

 

(b) Going Concern

 

(c) Separate Entry

 

(d) Materiality 

Accounting Economics Finance
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Question added by Shamseer KM , Accounts and Admin Payroll , KBM Group
Date Posted: 2015/03/05
Upvote (2) Views (16) Followers (16) Answers (13) Report Question
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Mir Mujtaba Ali
by Mir Mujtaba Ali , Internal Audit Manager , Confidential

(c) Separate entity

Please correct the spelling of "entity" in  the answer options

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

(c) Separate Entity  OR Business entity concept.

It means that personal transactions of owners are treated separately from those of the business.

Deleted user
by Deleted user

answer is

C)separate entity

IMTIAZUR RAHMAN
by IMTIAZUR RAHMAN , Administration And Customer Care Officer , Amira Enterprises (Importers, Marketing & Retail Sales), Mississauga, Ontario

The correct answer is (C)- Separate Entity. 

The Separate Entity concept is the basic accounting concept that we should always separately record the transactions of a business and its owners. Otherwise, there is a considerable risk that the transactions of the two will become intermingled.

Ahmed kandil
by Ahmed kandil , Cost Controller , Battour Holding Cpompany

Answer C is the correct answer

IMRAN ALI MOHAMMED
by IMRAN ALI MOHAMMED , Accounts Officer , M/s. Euro Glazing Ltd

Ans. Separate Entity Concept. It is done to determine true profitability and financial position of a business.

Syed Ammar
by Syed Ammar , Senior Accounts Officer , The City Schools (Group Head office)

(C) Separate Entry   ...................

Muhammad Zeeshan Hyder
by Muhammad Zeeshan Hyder , Chief Accountant , SAED Group International (Al Dabbagh Group)

Separate entity is the correct answer

Rowan Elhossary
by Rowan Elhossary , Sales and service rep , CIB

Separate entity The business and the owner are considered like two different entities

Syed Ibrahim Jalali
by Syed Ibrahim Jalali , Deputy Manager Operations , Pakistan Mercantile Exchange Ltd (PMEX)

(c) Separate Entry.................................................

aziz urrehman
by aziz urrehman , key account executive , alkhair group of companies foam manufacturing

c) Separate Entry is the ans for the Q.

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