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What is mean by entity

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What is mean by entity

    • Posted by Madhan Gopal 5 years, 6 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Gaurav Seth 5 years, 6 months ago

    Entity: Entity means a reality that has a definite individual existence.

    Business entity: It means a specifically identifiable business enterprise like Super Bazaar, Hira Jewellers, ITC Limited, etc. An accounting system is always devised for a specific business entity (also called accounting entity).

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