Business and Personal Finance Dictionary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

• ECONOMIC ENTITY
  
  accounting concept that provides context or "point of view" for the economic events (i.e., transactions) captured by the financial statements. In short, it answers the questions, "Whose asset is it?"; "Whose liability is it?"
  
  Back