Economic entity

In today's article we will explore Economic entity in depth, a topic that has captured the interest of many people in recent years. From its origins to its impact on our current society, Economic entity is a topic that has sparked curiosity and debate in various areas. Throughout this article, we will analyze different perspectives, investigate their influence on different aspects of daily life and examine their relevance in the current context. Get ready to immerse yourself in the fascinating world of Economic entity and discover everything this theme has to offer. Don't miss this comprehensive exploration that will open your eyes to new ideas and approaches to Economic entity!

Concept in accounting

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An economic entity is one of the assumptions made in generally accepted accounting principles. Almost any type of organization or unit in society can be an economic entity. Examples of economic entities in accounting are hospitals, companies, municipalities, and federal agencies.

The "Economic entity assumption" states that the activities of the entity are to be kept separate from the activities of its owner and all other economic entities.^[1]

See also

• Piercing the corporate veil

References

1. ^ Jerry J. Weygandt (2019). Hospitality Financial Accounting. John Wiley & Sons. pp. 41–. ISBN 978-0-471-27055-3.

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