What do u mean by entity of a business?
Acc to this the business and the proprietor both are having separate legal entity.
Business entity is an organization established as a separate existence for the purpose of taxes. Coorpartion,limited liability companies, and sole proprietorship are types of common business entity
It states that business and the proprietor both are having separate entity.
It mean that the owner of a business is separate from business
It is an organisation which is having separate legal identity