ACCOUNTING ENTITY Definition

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ACCOUNTING ENTITY is an organization, institution or being that has its own existence for legal or tax purposes. An accounting entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, etc. See also ACCOUNTING ENTITY ASSUMPTION.

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MANUAL TAG SYSTEM is an inventory tracking system used in inventory management that tracks inventory using tags removed at the point of purchase.

SALES & MARKETING EXPENSE normally includes: salaries, commissions, and benefits to sales and marketing personnel, co-op advertising allowances to customers, advertising, warehouse costs, and shipping costs.

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