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Problem: The business entity concept means that: a. the business entity is considered a separate entity apart from the owner or owners b. the business entity is organized according to the rules determined by the IRS c. the business entity is organized according to the rules determined by the FASB d. the owner of the business entity and the business entity are treated the same from a legal and accounting viewpoint

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Problem Details

The business entity concept means that:

a. the business entity is considered a separate entity apart from the owner or owners

b. the business entity is organized according to the rules determined by the IRS

c. the business entity is organized according to the rules determined by the FASB

d. the owner of the business entity and the business entity are treated the same from a legal and accounting viewpoint

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