Public Good

Invisible Hand
The 'invisible hand' is a term coined by Adam Smith, describing the self-regulating behavior of the marketplace, where individual pursuits of self-interest unintentionally promote the welfare of society as a whole.
Public Benefit Entity (PBE)
Public Benefit Entity (PBE) refers to a type of not-for-profit organization that exists primarily for social, educational, charitable, or other public benefits rather than for profit generation. These entities are driven by goals that focus on public good.

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.