Question

what is business entity​

Answer 1

An entity is an organization created by one or more individuals to carry out the functions of a business, and that maintains a separate legal existence for tax purposes. ... Entities refer to the structure of the business rather than what the business does. They can include sole entrepreneurs, corporations.

Answer 2

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Business eentity

A business entity is an organization that's formed to conduct business. ... There are several types of business entities. Sole proprietorships and general partnerships are unincorporated businesses, while limited liability partnerships provide some liability protection for investors.

or,

An entity is an organization created by one or more individuals to carry out the functions of a business, and that maintains a separate legal existence for tax purposes. ... Entities refer to the structure of the business rather than what the business does. They can include sole entrepreneurs, corporations

Generally speaking, there are three basic types of legal entities in which business can be conducted:

(1) sole proprietorship,

(2) partnership, and

(3) corporation.

To determine business entity:

The type of business entity you choose will depend on three primary factors: liability, taxation and record-keeping. Here's a quick look at the differences between the most common forms of business entities: A sole proprietorship is the most common form of business organization.

Examples of an entity are a single person, single product, or single organization. Entity type. A person, organization, object type, or concept about which information is stored. ... The representation of the entity as it is stored in individual source systems.

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