ACCOUNTING ENTITY ASSUMPTION Definition

Bookmark and Share

ACCOUNTING ENTITY ASSUMPTION states that a business is a separate legal entity from the owner. In the accounts the business' monetary transactions are recorded only.

Learn new Accounting Terms

COST BASIS, in securities, is the purchase price after commissions or other expenses. It is used to calculate capital gains or losses when the security is eventually sold.

PERT is Program Evaluation and Review Technique.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.