According to which of the following concepts even the owner of the business who provides capital tre...........

Accountancy (Phase -I & II) Concepts of Accounting

According to which of the following concepts even the owner of the business who provides capital treated as a creditor of the business?

Convention of disclosure..

Entity concept.

Cost concept.

Money measurement concept.

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Explanation:

According, to this concept, the owner or the proprietor of a business is always separate and distinct from the business or enterprise. Business is treated her as a separate ‘unit’ or ‘entity’. But legally, there is no economic separation between the owners and the business entity in case of a sole proprietorship and partnership business According, to this concept, the owner or the proprietor of a business is always separate and distinct from the business or enterprise. Business is treated her as a separate ‘unit’ or ‘entity’.

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