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

The allocation of owner's private expenses to his/her business violates which of the following? Correct Answer Separate business entity concept

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.
Bissoy MCQ

Related Questions

Two friends M and N have 40% and 60% shares in a business. After some time a third friend joined the business by investing Tk 5 Lac and acquired 20% shares in the business. What is the share of M in the business now ?
Two friend M and N have 40% and 60% shares in a business. After some time a third friend joined the business by investing Tk. 5 lac and acquired 20% shares in the business. What is the share of M in the business now?
During the four years that Mr. Rahim owned his car,he found that his total car expenses were Tk. 18,000. Fuel and maintenance costs accounted for 1/3 of the total cost and together these two costs accounted for 1/5 of the total cost. If the only other expenses were taxes and License fees, then the cost of financing was how more of less than the cost of taxes and license fees?
Type of partnership in which liabilities are limited for business owners is classified as
The net increase in owners' equity resulting from business operations is called
The underlined word in the sentence "Whoever violates the rule shall be punished" is
Typically, the entrepreneur is seen as an individual who owns and operates a small business. But simply to own and operate a small business- or ever a big business-dose not make someone an entrepreneur. If this person is a true entrepreneur, then new products are being created and new ways of providing services are being implemented . Which of the following conclusions can best be drawn from the above passage ?
Growing economic woes and competition could be pushing accountants to finagle their clients records ,accountants can, for example help thier frustrated clients write off certain luxurios purchases and justify them as business expenses-
The visibility of a property or method can be defined by prefixing the declaration with the keywords public, protected or private. Class members declared public can be accessed everywhere. Members declared protected can be accessed only within the class itself and by inherited classes. Members declared as private are not accessible.
Which of the following are the owners of a company?