Explain the following Accounting concepts
a) Business entity concept
b) Accrual concept
c) Money measurement concept
d) Periodicity concept 

a) Business entity concept:

The business entity concept is a fundamental accounting principle that states that a business is a separate entity from its owners. This means that the personal financial affairs of the owners or shareholders should be kept separate from the financial transactions of the business. As a result, the financial transactions of the business are recorded separately from the personal financial transactions of the owners or shareholders.

This concept is essential because it ensures that the financial statements of the business reflect the true financial position of the business and not the personal financial position of the owners or shareholders. By keeping the financial affairs separate, it becomes easier to track the financial performance of the business and make decisions based ____ _________ _______ _________ __________ _____ ________ _______ ______.
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