Examlex
What is the relationship between the following two compounds?
Legal Entity
An organization that possesses legal rights and responsibilities, including the ability to enter contracts, sue, and be sued; can be a company, non-profit, or government organization.
Governmental Agency
An organization established by a government to administer specific legislation and carry out public policies.
Owner's Equity
The residual interest in the assets of an entity after deducting liabilities, representing the ownership interest of the shareholders or owner.
Net Income
The net income a company earns once all costs and taxes are subtracted from the total revenues.
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