What is meant by a company is a Legal Entity?

Answer:
Legal entity is a status of a company where the law sees the biz as separate and distinct from the owners. They enjoy legal personality. The business is a corporate citizen on its own and activities are carried out under its own name. It can sue or be sued under it's own name and there's nothing to do with the owners.
First answer by GMMOO. Last edit by GMMOO. Contributor trust: 7 [recommend contributor recommended]. Question popularity: 8 [recommend question].

Can you answer these Business Accounting and Bookkeeping questions?

What is a primary purpose? Answer it!
What to check in balance sheet of tally 9? Answer it!
What is the annual report and financial statement of a company? Answer it!
What accounts is NOT a nominal account? Answer it!
Why is this statement wrong The main purpose of financial management is to increase revenue annually by a percentage set by the Board of Directors? Answer it!

Relevant answers:

Related topics:

Shopping for Business Accounting and Bookkeeping deals?

Find Coupons and Promo Codes on Coupons by Answers.com
FIND MORE COUPONS AND PROMO CODES

Home

Answer these

How do you jump out of a bus?
In: Kangaroos and Wallabies
Answer it!
How does chemistry interact with organic?
In: Chemistry
Answer it!
What games are in the modern and ancient Olympics?
In: Ancient Olympics
Answer it!
What is the oldest form of economic activity?
In: Economics
Answer it!
» more

Featured guides

» More