Examlex
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Taxable Entity
An individual, organization, or corporation subject to taxes on income or transactions by governmental agencies.
Proprietorship
A form of business organization where a single individual owns the company and is responsible for its debts.
Balance Sheet
A financial statement that displays a company's assets, liabilities, and shareholder equity at a specific point in time, providing a snapshot of its financial condition.
Assets Section
Part of a balance sheet that lists and describes an entity's resources or items of value owned.
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