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A sociologist studying child-rearing in a small religious group observes that many parents often withhold food and water from their children who have misbehaved.Though the sociologist personally disapproves of this practice,she maintains that it must be understood within the context of the culture in which it occurs.This orientation to practices is an example of
Dissolution
The official termination of an entity's existence, such as a corporation or partnership, through legal processes.
General Partner
A member of a partnership who has full liability for the debts of the partnership and participates in its management.
Limited Partnership
A partnership structure where at least one partner has limited liability for the debts and obligations of the business, while at least one other bears unlimited liability.
LLC
A Limited Liability Company; a hybrid business structure that combines the personal asset protection of a corporation with the tax benefits of a partnership.
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