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fat hobo
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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.
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
Is a cooperative a legal entity?
Yes it is!
What does P.C. stand for after an accountant or cpa's name?
Professional Corporation, that is their form of legal entity, as opposed to Inc. or LLC
A business organized as a separate legal entity owned by stockholders is a partnership true or false?
A business organized as a separate legal entity owned by stockholders is a partnership.
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.
Is a partnership firm has any legal entity?
No, a partnership firm has no legal entity. Registering the partnership firm means registering the partnership relation. firm has no separate legal entity.
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.
Where does a corporation gain separate legal entity in the History of American law?
what is a separate legal entity for a corporation?
Is sole proprietorship a legal entity?
Yes, but it is not a separate legal entity, it is not separate from the owner, like a corporation is.
Is a corporation a separate legal entity?
A corporation is an institution recognised a separate legal entity distinct from its members.
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 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
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
Is a cooperative a legal entity?
Yes it is!
Is a prisoner a Legal entity?
yes
