BUSINESS ENTITY Definition

Bookmark and Share

BUSINESS ENTITY is a selection of the legal form under which a business is to operate: sole proprietorship, general partnership, corporation, S corporation (in the U.S.), or, a limited liability company.

Learn new Accounting Terms

PURCHASE MONEY INTEREST is that interest associated with the purchase money mortgage.

REPORTABLE CONDITION is a matter coming to the auditor's attention relating to SIGNIFICANT DEFICIENCIES in the design or operation of the entitys internal control that could ADVERSLY AFFECT an entity's ability to fulfill future obligations with customers and/or the satisfaction of liabilities.

Suggest a Term

Enter Search Term

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