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Match the Term with Its Definition

question 41

Multiple Choice

Match the term with its definition. Some terms may not be used.
-An arrangement to outsource part of personnel management to an organization that handles paperwork and administers benefits for those employees


Definitions:

Partnership

A business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a partnership agreement.

Personal Liability

The legal responsibility of an individual to settle debts or obligations from their own assets, rather than those protected by a corporation or limited liability entity.

Business Debts

Obligations that a business incurs as a result of operating activities, including loans, accounts payable, and any other form of borrowed money.

No Personal Liability

A legal principle that protects individual actors within a corporation or legal entity from bearing personal financial responsibility for the entity's liabilities.

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