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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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