Examlex
Match each of the following terms with its corresponding definition.
-Desk checking
Partnership Losses
Denotes the deficits shared by partners in a business partnership, reflecting negatively on the partnership's fiscal health and possibly impacting individual partners' finances based on their share.
Secret Profit
A financial benefit that an individual or entity gains without disclosing it to the relevant parties, typically in situations where there is a duty to disclose such benefits.
Business Transaction
An economic event with a monetary impact on an entity's financial statements, often involving the exchange of goods or services.
Actual Authority
The express and implied powers granted by a principal to an agent to act on their behalf.
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