Question

from an accounting viewpoint when is a business considered as an entity separate from its owner(s)

Answer 1

Answer:

Always

Explanation:

• According to Business Entity Principle business and businessmen are a different person.

• The business entity Doctrine notes that financial transactions must be reported independently from those of their shareholders.

• To do so includes the use of the association of different accounting records which fully exclude any other individual or owner's total assets.

So we say that business entity is always separated from its owner.