For accounting purposes, the business entity should be considered separate from its owners if the entity is

A) a corporation
B) a proprietorship
C) a partnership
D) All of these choices

Business Entity Concept

A concept of accounting that limits the economic data in the accounting system to data related directly to the activities of the business.

Accounting Purposes

The specific objectives or reasons for recording and reporting financial information, such as compliance and decision-making.

Corporation

A business organized under state or federal statutes as a separate legal entity.