Business, Legal & Accounting Glossary
that which is perceived or known or inferred to have its own distinct existence (living or nonliving)
n. a general term for any institution, company, corporation, partnership, government agency, university or any other organization which is distinguished from individuals.
An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from its individual members–for example, a corporation, partnership, trust, estate or government agency. The entity is treated like a person; it can function legally, be sued, and make decisions through agents.
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This glossary post was last updated: 28th April, 2020 | 9 Views.