The accounting entity concept is the principle that financial records are prepared for a distinct unit or entity regarded as separate from the individuals that own it, ensuring clear financial reporting.
A business entity is an organization established as a separate entity for the purpose of conducting business. It functions independently of its owners and has its own legal rights and obligations.
A de facto corporation is an entity that operates as a corporation in fact but lacks formal incorporation or official recognition by law.
A for-profit corporation is a business entity established with the primary goal of earning profit for its shareholders. Unlike non-profit organizations, for-profit corporations operate to generate financial returns for their owners.
A business entity that is part of a larger corporate group, encompassing various companies with shared ownership or control connections, often referred to in relation to subsidiary undertakings.
A limited partnership is a type of business entity in which at least one partner (the general partner) manages the business and is personally liable for the debts, while other partners (limited partners) contribute capital and have limited liability.
PC or P.C. stands for Personal Computer, typically referring to a general-purpose computer for individual use. It also stands for Professional Corporation, a legal business entity formed by certain professionals who provide licensed services in various fields.
A publicly held corporation is a type of business entity whose shares of common stock are offered to the general public and traded on a national stock exchange.
The Separate-Entity Concept is a fundamental principle in accounting that treats a business as distinct and separate from its owners and other entities, ensuring clear financial accountability and reporting.
SARL, or 'Società a Responsabilità Limitata', is the Italian designation for a firm with limited liability. It is a common type of business entity in Italy that offers liability protection to its owners while allowing a flexible organizational structure.
