SOCIAL ENTITY Definition

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SOCIAL ENTITY is the separate existence of an organization that is perceived to exist, by its members and the public at large, as a given, i.e. something that exists before and outside of them.

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DEFERRED CREDITOR see DEFERRED INCOME.

CONSISTENCY is using the same accounting procedures by an accounting entity from period to period. That means using similar measurement concepts and procedures for related items within the company's financial statements for one period.

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