Differentiate between Business entity concept and Money measurement concept.

Differentiate between Business entity concept and money measurement concept.

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Business entity concept implies that a business is separate and distinct to the person who supply capital to it, irrespective of the form of the organization, a business unit has got it's own individuality as distinguished from the person who own it while money measure concept implies that money is the only practical unit of measurement that can be employed to achieve the homogenity of financial data, accounts record transactions which can be expressed in terms of money through quality records are also kept

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Wincate 1 answered the question on October 2, 2017 at 09:21

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