Difference between revisions of "Corporation"
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According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
:[[Corporation]]. Business organization that is both a legal and accounting entity. | :[[Corporation]]. Business organization that is both a legal and accounting entity. | ||
| − | According to [[Financial Management | + | According to [[Fundamentals of Financial Management by Eugene F. Brigham and Joel F. Houston (15th edition)]], |
| − | :[[Corporation]]. A legal entity created by a state | + | :[[Corporation]]. A legal entity created by a state, separate and distinct from its owners and managers, having unlimited life, easy transferability of ownership, and limited liability. |
==Related concepts== | ==Related concepts== | ||
Revision as of 13:03, 1 November 2019
Corporation is a business organization that is both a legal and accounting entity.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Corporation. Business organization that is both a legal and accounting entity.
According to Fundamentals of Financial Management by Eugene F. Brigham and Joel F. Houston (15th edition),
- Corporation. A legal entity created by a state, separate and distinct from its owners and managers, having unlimited life, easy transferability of ownership, and limited liability.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
