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      Question

      The concept that requires a business to be treated as a

      separate entity from its owners is:
      A Money Measurement Concept. Correct Answer Incorrect Answer
      B Business Entity Concept. Correct Answer Incorrect Answer
      C Dual Aspect Concept. Correct Answer Incorrect Answer
      D Materiality Concept. Correct Answer Incorrect Answer
      E Realization Concept. Correct Answer Incorrect Answer

      Solution

      The Business Entity concept ensures that personal transactions of owners are not mixed with business transactions.

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