business entity concept Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “business entity concept” in the English Dictionary

"business entity concept" in Business English

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business entity conceptnoun [S]

uk   us   ACCOUNTING
the ​idea that in accounting (= the ​work of preparing ​financialrecords) a ​business or ​organization is completely ​separate from the ​personalbusiness of the ​people who own it or ​work in it: The ​businessentityconceptrequiresaccountants to ​treat all ​businesses as seperate.
(Definition of business entity concept from the Cambridge Business English Dictionary © Cambridge University Press)
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