"Use Abbreviations and Acronyms Only When They Are Widely Understood

question 98

True/False

"Use abbreviations and acronyms only when they are widely understood by users and are significantly shorter than the full text" is not a guideline for displaying text.

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Definitions:

S Corporation

A designation for a corporation that meets specific Internal Revenue Service criteria, allowing it to be taxed as a pass-through entity, thereby avoiding the double taxation typically applied to corporations.

Purported Partnership

The appearance of partnership when there is no partnership; it arises when a person misleads a second person into believing that the first person is a partner of a third person; a theory that allows the second person to recover from the first person all reasonable damages the second person has suffered due to his reliance on the appearance of partnership.

Constructive Partnership

A legal concept where a partnership is deemed to exist based on the actions or conduct of the parties, despite there being no formal agreement.

Actual Partnership

A type of business partnership that exists when two or more individuals engage in a business for profit with an express or implied agreement of partnership, as opposed to being legally deemed partners by the law.