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    Business Entity Principle

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    Dahyun Dahyun
    A business entity principle requires that a business maintain its own set of financial records and accounts separately from its owners' personal finances. This ensures the business finances are kept distinct and independent from the owners' personal assets and liabilities. The separation of finances through distinct record keeping allows for more accurate accounting of the business's profits, losses, and overall financial performance.

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    Business Entity Principle

    Uploaded by

    Dahyun Dahyun
    8 views1 page
    A business entity principle requires that a business maintain its own set of financial records and accounts separately from its owners' personal finances. This ensures the business finances are kept distinct and independent from the owners' personal assets and liabilities. The separation of finances through distinct record keeping allows for more accurate accounting of the business's profits, losses, and overall financial performance.

    Original Description:

    reviewer in accounting

    Original Title

    AC9

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    A business entity principle requires that a business maintain its own set of financial records and accounts separately from its owners' personal finances. This ensures the business finances are kept distinct and independent from the owners' personal assets and liabilities. The separation of finances through distinct record keeping allows for more accurate accounting of the business's profits, losses, and overall financial performance.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    8 views1 page

    Business Entity Principle

    Uploaded by

    Dahyun Dahyun
    A business entity principle requires that a business maintain its own set of financial records and accounts separately from its owners' personal finances. This ensures the business finances are kept distinct and independent from the owners' personal assets and liabilities. The separation of finances through distinct record keeping allows for more accurate accounting of the business's profits, losses, and overall financial performance.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 1

    Business entity principle

    An accounting principle that requires a business


    maintain its own set of records and accounts that
    are separate from other financial interests of its
    owners

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