CFO Question:
Download Questions PDF

Tell me what is business Entity Concept?

Answer:

According to this concept, the business has a separate legal identity than the person who owns the business. The accounting process is carried out for the business and not for the person who is carrying out the business. This concept is applicable to both, corporate and non corporate organizations.

Download Chief Financial Officer Interview Questions And Answers PDF

Previous QuestionNext Question
Tell me what is the scope of uniform costing?Please explain reserves and Surpluses?