Business (or Legal) Entity. The legal structure, or “type”, of a business. Common entities include Sole Proprietor, Partnership, Limited Liability Corp (LLC), S-Corp, and C-Corp. Each entity has a unique ... Read MoreRead More
Combining of two entities. Under the PURCHASE METHOD OF ACCOUNTING, one entity is deemed to acquire another and there is a new basis of accounting for the ASSETS and LIABILITIES ... Read MoreRead More
Any division of an organization authorized to operate, within prescribed or otherwise established limitations, under substantial control by its own management. ... Read MoreRead More