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Examveda

The allocation of owner's private expenses to his/her business violates which of the following?

A. Accrual concept

B. Matching concept

C. Separate business entity concept

D. Consistency concept

Answer: Option C

Solution(By Examveda Team)

The allocation of owner's private expenses to his/her business violates Separate business entity concept. The business entity concept states that the transactions associated with a business must be separately recorded from those of its owners or other businesses.

This Question Belongs to Commerce >> Accounting

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