Keeping the personal assets of the owner of a business separate from the assets of the firm is an example of

Name: Keeping the personal assets of the owner of a business separate from the assets of the firm is an example of
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Keeping personal assets separate from the assets of the business is an example of following the separate entity assumption, which is a fundamental accounting concept that assumes that the business is separate from its owners or any other business entity.

Keeping the Personal Assets of the Owner of a Business