Different Types of Entities in a Business
Businesses may all look the same when you look at the building in which they operate, the employees they hire and the product they sell. However, they can be very different when it comes to their legal structure. The legal structure determines the type of entity they are which in turn determines the rules that will be applied to them. Here is a list of the types of entities and their relevance to accounting.
Apart from the following there are co-operative organizations, not for profit organizations etc. They too are different types of entities. The type of entity has a profound effect on the accounting system of the organization.
- Limitations of Accounting
- Who Uses Accounting Data ?
- Entity Concept in Accounting
- Different Types of Accounts
- Debits and Credits in Accounts
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