In this paper the authors make a classification between Entities and Events. Entities are things that are and Events are things that happen. Events are states and actions. States are static situation brought about or changed by actions.
To elaborate further on this Entities are the state information or the facts. Actions apply on those entities. So if we revisit our earlier post the facts can be represented as attributes of an object. Like Sun rises in east can be represented as Rising Direction (Predicate) attribute of Sun (Subject) with a value East (an instance of type direction). Similarly we can also represent other facts mentioned in the earlier post.
Any second thought????
Until Next Time ....