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(c) Separate entity
Please correct the spelling of "entity" in the answer options
(c) Separate Entity OR Business entity concept.
It means that personal transactions of owners are treated separately from those of the business.
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.
(C) Separate Entry ...................
(c) Separate Entry.................................................
c) Separate Entry is the ans for the Q.