Q2009
Assertion (A): Personal transactions of the business owners are not recorded in the books. Reason (R): According to the business entity concept, each business enterprise is considered an accounting unit separate from owners.
A.
Both (A) and (R) are correct, and (R) is the correct explanation of (A)
AnswerB.
Both (A) and (R) are correct, but (R) is not the cor rect explanation of (A)
C.
(A) is correct, but (R) is incorrect
D.
(A) is incorrect, but (R) is correct
Answer: Option A
Solution
Answer: Option A
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