Which of the following statements about the entity concept is not correct? a. The entity concept requires
Question:
Which of the following statements about the entity concept is not correct?
a. The entity concept requires the preparers of accounts to treat the organisation as a separate entity from that of the owners.
b. The entity concept was known during the early Islamic State.
c. Accountants should record owner personal expenses to comply with the entity concept.
d. An economic entity can be any organisation or unit in an economy.
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The statement that is not correct about the entity concept is c Accounta...View the full answer
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Related Book For 
Principles Of Islamic Accounting
ISBN: 9781119023296
1st Edition
Authors: Nabil Baydoun, Maliah Sulaiman, Roger J. Willett, Shahul Ibrahim
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