Excerpt from Fundamentals of Accounting, Vol. 1 of 2: Principles and Practice of BookkeepingThis work represents an endeavor to provide suitable text material covering the basic principles of accounting and book keeping practice in convenient form for instruction by the class method. It is the result of years of experience both in the class room and in business and its
[36e77] ~Read! Fundamentals of Accounting, Vol. 1 of 2: Principles and Practice of Bookkeeping (Classic Reprint) - S Bernard Koopman %ePub#
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Fundamental concepts entity conceptthe most basic concept in accounting is the entity concept. An accounting entity is an organization or a section of an organization that stands apart from other organizations and individuals as a separate economic unit. Simply put, the transactions of different entities should not be accounted for together.
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