Accounting analyses and generally accepted accounting practices have been influenced to a considerable extent by the law. The article presents a report of the survey of the legal literature to determine the extent to which those in the field of law have accepted the concept of the corporation as a legal entity, which has an independent existence quite separate and distinct from its officers and stockholders and the extent to which other concepts have been advocated. Because the significance of a legal concept ultimately depends upon its application in arriving at judicial decisions, the survey induced the examination of cases where the court's concept of the corporation was a material factor in arriving at its decision. The results of the survey suggest that considerable caution is warranted in the evaluation of the acceptability of accounting procedures that hinge upon a particular legal interpretation. Specifically, the results of the survey suggest that the acceptability of accounting analyses cannot with confidence be based entirely upon a particular legal concept of the corporation.