Question

The specific unit or organization for which accounting information is accumulated and reported is called the

Answer 1

Answer:Accounting Entity

Explanation: An Accounting entity is a corporation or sole proprietor who prepares and maintains separate books of recording all its transactions which are its assets and liabilities for a period of time.

An accounting entity maintains and provide detailed accounting information useful to the owners of the business and its investors.

A separate books of account must be maintained for different entities.

Answer 2

Entity

Step-by-step explanation:

he specific unit or organization for which accounting information is accumulated and reported is called the Entity