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The accounting concept underlying the treatment of personal expenses of the business owner as drawing…

The accounting concept underlying the treatment of personal expenses of the business owner as drawing is

  • A.
    periodicity
  • B.
    accrual
  • C.
    entity
  • D.
    materiality
Correct Answer: Option C
Explanation

The business entity concept states that the transactions associated with a business must be separately recorded from those of its owners or other businesses.