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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.
Is a consolidated entity an accounting and a legal entity?
A legal entity is normally formed with formal registration (eg commercial registeratin) which is governed by an established law. However a consolidated entity is a REPORTING entity to provide users of financial statements with information about a legal entity (parent company) plus the financials of other entities (with separate legal entities) under their control.
What is the difference between a legal entity and a legal person?
A natural person is a human. A legal person is a company or person.
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 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.
What is a legal entity in oracle apps?
A legal entity is a clearly identified entity, which is given rights and responsibilities under commercial law, through registration with the country's appropriate legal authority. These rights and responsibilities are enforceable through the judicial system. A legal entity generally has the right to own property and trade, and the responsibility to repay debt and comply with labor law. Legal entities are responsible to account for themselves to company regulators, taxation authorities, and owners according to rules specified in the relevant legislation The legal entity belongs to the organization's own corporate legal structure (enterprise). The legal entity is referred to as the internal legal entity and is the initiator and owner of a given transaction.Yusuf Akolawala
What is legal entity in oracle apps?
A legal entity is a clearly identified entity, which is given rights and responsibilities under commercial law, through registration with the country's appropriate legal authority. These rights and responsibilities are enforceable through the judicial system. A legal entity generally has the right to own property and trade, and the responsibility to repay debt and comply with labor law. Legal entities are responsible to account for themselves to company regulators, taxation authorities, and owners according to rules specified in the relevant legislation The legal entity belongs to the organization's own corporate legal structure (enterprise). The legal entity is referred to as the internal legal entity and is the initiator and owner of a given transaction.Yusuf Akolawala
Do you use a comma before a LLC designation?
It depends on the legal name of the company. You need to see how the name of the entity is filed with the secretary of state in which the entity is created. The legal name is also filed on the IRS form 8832 Entity Classification Election. It is the legal name of the entity, not grammar or usage. Most LLC names I have seen do not have a comma before them.
What is dissolved directorship?
A dissolved directorship means that a company has stopped trading. This is taken to mean that the company ceases to exist as a legal entity.
What is the judgment in Solomon vs Solomon case?
The crux of the case is whether a company created by Solomon was a distinct legal entity from Solomon or both company and Solomon are one and the same person and Solomon has shown himself and his company a separate legal persons just to defraud the creditors of the company who invested money into his company. In this case the House of Lord gave judgement in favor of Solomon stating Solomon and his Company both are separate legal entity.
Is Energex global inc a genuine company?
Energex Global is a legal entity registered in Plano, Texas.
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
