Basic Acctounting

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…provided by , in most cases, one owner. With a sole propretorship entity it is difficalt to separate resources that are personal and business related. Taxies and other exspence are payed through p! ersonal accounts shared because of the limitation of rescorces. The accountant is given the responsiblity of separating the business transactions of that which is personal. The term, separate entity assumption , is used to enter transactions processed for the business firm. ------------------------------------------------------------------------ **Bibliography** None