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What is the difference between a legal entity and a legal person?
Wiki User
∙ 14y ago
A natural person is a human. A legal person is a company or person.
Wiki User
∙ 15y ago
Wiki User
∙ 14y agoA legal entity is not a living breathing person, but it can own property, incur debt, etc.
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Difference between a branch and a subsidiary?
a branch is part of the same legal entity. A subsidiary is a distinct legal entity, within a larger company structure.
Difference between accounting entity and legal entity?
The accounting entity suggests that the owners funds are kept separate from the business's, The legal entity however considers them to be the same account when seizing assets for reasons such as debt
What is the difference between a corporation and a commission?
The difference between a corporation and a commission is in their functions. A corporation if a government entity that serves the public while a commission is an investigative body set up for a particular task.
What is the major difference between a corporation and other kinds of businesses?
A corporation has a separate legal entity apart from that of the owners and workers.
What is the difference between inter-company and intra-company?
Inter company transaction is between two or more related legal entities while intra company transaction is within the same legal entity.
Difference between sole proprietorship from partnership and company?
sole proprietorship is a type of business in which only one person controls the business and manages all other activiteis of business no legal restrictions on this type of business where as partnership and company has legal entity of their own
What is the Difference between partnership organization and a corporate business organization?
There are several differences, but the main one is this. A corporation is a separate legal entity. A partnership is not.
What is the meaning of financial entity?
A financial entity is a legal/financial term. It refers to a legally created person as opposed to a natural person.
What is an example of an artificial legal person?
Entity (such as a firm) other than a natural person (human being) created by law and recognized as a legal entity having distinct identity, legal personality, and duties and rights. Also called juristic person or legal person. See also body corporate.
Plaintiff vs defendant?
Plaintiff is the person/legal entity who raises the complaint in a court of law while defendant is the person/legal entity against whom the complaint is raised in the court of law.
Distinguish between legal entity and accounting entity?
An accounting entity is the economic unit, the business that is being accounted for and not necessarily a legal entity (Sands J 2002). I currently manage and submit accounting reports for a business unit within the company I work for, the business unit is an accounting entity with retained earnings, assets, etc... however the business unit is not in itself a legal entity, it is a department within a legal entity.
What is the difference between Company and Corporation?
Company means those legal entity which are registered under companies act 1956 and corporation means those legal entity which are guided under the parliamentary act 1949 like LIC,FCI etc. Ganesh Khatua +919439719947
