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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TRANSPOSE is to change the relative place or normal order, e.g., to alter the sequence of numbers to change the amount; often accidentally.

ENGINEERED COSTS are those costs having a clear linkage to output, e.g., direct materials costs.

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