Legal Entities

Chartered Company
A Chartered Company is a type of company that is incorporated through a Royal Charter, distinguishing it from companies incorporated under general company law or private acts of parliament.
Foreign Corporation
A foreign corporation is a legal entity that is registered outside the state or country in which it primarily conducts business. It is important to distinguish between out-of-state corporations and alien corporations.
Limited Company
A limited company is a type of company structure where the liability of members is restricted to their investment or guarantee amount.
Ownership
Ownership refers to the exclusive right of possessing, enjoying, and disposing of a thing. It encompasses both the concepts of possession and title, making it broader in scope than either.
Shares of Beneficial Interest
Shares of Beneficial Interest are proof of an individual's rights and interest in the assets held in a trust or other legal entity.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.