Question

What do you understand by Economic entities..​

Answer 1

In accounting, an economic entity is one of the assumptions made in generally accepted accounting principles. Almost any type of organization or unit in society can be an economic entity. Examples of economic entities are hospitals, companies, municipalities, and federal agencies.

Answer 2

Answer:

In accounting, an economic entity is one of the assumptions made in generally accepted accounting principles. Almost any type of organization or unit in society can be an economic entity. Examples of economic entities are hospitals, companies, municipalities, and federal agencies.