NCEA Level 2 Accounting Practice Questions - NCEA Level 2 Accounting (NZQA Assessment Standards 91174, 91176, 91177) Exam

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Under NCEA Level 2 Accounting (AS 91174), which accounting concept requires that the financial affairs of the business entity must be kept completely separate from the personal financial affairs of the owner?

Monetary Measurement concept Accounting Entity concept Historical Cost concept Going Concern concept

Correct Answer:

Accounting Entity concept

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