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The allocation of owner's private expenses to his her business violates...

This question belongs to Commerce Accounting
Accounting
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The allocation of owner's private expenses to his/her business violates which of the following?

Answer & Solution
Correct Answer: Option C
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.
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