Friday, 20 July 2012

Business Entity Concept

Business Entity Concept

This concept implies that a business unit is separate and distinct from the person who supply capital to it. Irrespective of the form of organisation, a business unit has got its own individuality as distinguished from the persons who own or control it.

No comments:

Post a Comment

Contra entry example

Contra Entry :- If a transaction requires entries on both the debit and the credit sides simultaneously, it is called 'Contra entry&...