Lesson60 seconds
What is Entity Concept?
Keeping the business's money story separate from the owner's personal wallet.
Step 1 of 9
Simple Definition
The entity (business entity) concept treats the business as distinct from its owners, so personal and business transactions are not mixed in the books.
Explanation level
Tap a persona to hear the same idea in a totally different voice.
Try “Like I'm 5™” for a picture-book version - not the grown-up wording above.
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