Final answer:
The concept that treats business apart from its owners is the Entity concept (C). The Entity concept recognizes a business as a separate and distinct entity from its owners, ensuring accurate financial reporting.
Step-by-step explanation:
According to the given options, the concept that treats business apart from its owners is the Entity concept (C).
The Entity concept is a fundamental principle in accounting that recognizes a business as a separate and distinct entity from its owners. It states that the financial records of a business should be kept separate from the personal financial records of its owners. This concept allows for accurate and reliable financial reporting and analysis of the business's if a business owner invests personal funds into the business, it would be recorded as a capital contribution from the owner to the business, and the business would have a separate bank account and financial statements.