The business entity concept means that:

a. the owner is part of the business entity

b. an entity is organized according to state or federal statutes

c. an entity is organized according to the rules set by the fasb

d. the entity is an individual economic unit for which data are recorded, analyzed, and reported

d.the entity is an individual economic unit for which data are recorded, analyzed, and reported

Explanation:

The business entity concept -

According to this concept , the transactions and all the financial records , must be recorded all together , separate from the personal transactions , is  referred to as the business entity concept .

Therefore , a separate accounting tool is adapted to the business purpose .

By adapted this method , the data and information can be recorded separately and hence can be easily analysed and report  

Hence , from the question ,

the correct option is d.

this business is a price setter.

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