What does entity mean in financial accounting?

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Aletha Lindgren asked a question: What does entity mean in financial accounting?
Asked By: Aletha Lindgren
Date created: Sun, Jun 6, 2021 2:51 PM
Date updated: Tue, Nov 1, 2022 7:41 AM

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Top best answers to the question «What does entity mean in financial accounting»

In accounting, the entity definition is an established account that has independent tax and legal ramifications. A business entity could be a sole proprietorship, a limited liability company, corporation or partnership.

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