The Entity concept of Accounting is applicable to ________________.

Sole Proprietary Concern

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Partnership Firm

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Joint Stock Company

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All of the aforesaid

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Solution

The correct option is D All of the aforesaid
Business Entity Concept states that the business man is separate from the business. Thus, the amount invested by the owner in the business is known as the capital and is liability for the business. This is a universal to all the forms of business whether it is sole proprietorship, partnership firm or a joint stock company.

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