ENTITY Definition

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ENTITY, in business, is a separate or self-contained existence that provides goods or services.

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FISCAL PERIOD is a unit of time (corresponding to calendar months) into which the fiscal year is divided. Period 1 is July 1st through July 31st, and so on. An extra accrual period also exists. See 13TH PERIOD.

ABNORMAL LOSS see NORMAL LOSS.

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