O-LevelAccountingAccounting principles and policies7707/12 · Oct/Nov 2022 · Q341 Mark
What is meant by the business entity principle?
AAll aspects of the business are recorded in money terms.
BGoods taken by the owner for personal use are not recorded.
CIt is assumed that the business will continue to operate indefinitely.
DTransactions are recorded from the point of view of the business.
✓ Correct answer
D: Transactions are recorded from the point of view of the business.
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