Explain accounting entity concept, Accounting Basics

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Q. Explain Accounting entity concept?

Business entity concept (or accounting entity concept). Data assemble in an accounting system relates to a specific business unit or entity. The business entity concept presumes that each business has an existence separate from its creditors, owners, employees, customers, other interested parties and other businesses.

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FND 154 Fundamentals of Accounting, Exercise 5-2 - Harwick company. 1) On A...

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