State whether the following statement are true or false with reason :

1.	State whether the following statement are true or false with reason :Perpetual succession is explained by the concept of the entity.
Answer» This statement is False. The concept of entity is different from the perpetual succession. Entity means separate existence of business from the owner whereas perpetual succession means long life and continuation.

State whether the following statement are true or false with reason :Perpetual succession is explained by the concept of the entity.

Answer»

This statement is False.

The concept of entity is different from the perpetual succession. Entity means separate existence of business from the owner whereas perpetual succession means long life and continuation.

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State whether the following statement are true or false with reason :Perpetual succession is explained by the concept of the entity.

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