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Business organization, an entity fashioned for the purpose of carrying on business enterprise. Such an organization relies on methods of regulation governing contract and trade, property rights, and incorporation. Generally, firms are required to pay tax identical to "real" folks. The first characteristic, plurality of membership, distinguishes the enterprise affiliation from the enterprise owned by one individual; the latter does not must be regulated internally by law, as a result of the only proprietor completely controls the property. Because the only proprietor is personally answerable for money owed and obligations incurred in connection with the enterprise, no particular rules are wanted to guard its creditors beyond the strange provisions of bankruptcy law. Accounting is the measurement, processing, and communication of financial details about economic entities similar to businesses and companies. The modern subject was established by the Italian mathematician Luca...