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The concept of 'separate entity' is applicable to which of the...

This question belongs to Commerce Accounting
Accounting
?

The concept of 'separate entity' is applicable to which of the following types of businesses?

Answer & Solution
Correct Answer: Option D
Ownership in business entities can be a sole proprietorship, partnership, or corporation. From the accounting perspective and its purpose these types of business are considered separate entities from their owners. The corporation is only one considered as a separate legal entity.
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6 Comments
Nitin Pundir
Nitin Pundir 6 years ago
D ans is right because it asked about separate entity not asked about separate legal entity ok guys
SARDAR ALI
SARDAR ALI 7 years ago
B is right Option
SARDAR ALI
SARDAR ALI 7 years ago
B is right Option
Tanvi Priya
Tanvi Priya 8 years ago
Answer should be (B) i.e corporation only,as also if we talk in terms of features ,only company has a feature of 'separate legal entity' and no other form have. So answer is B
Shah Jay
Shah Jay 8 years ago
Its only applicable to company
Shahbaz Nayeem
Shahbaz Nayeem 8 years ago
The concept of separate entity is not applicable on partnership .
How ans can be D I.e. all of the above.
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