Examlex
Commercial software packages must undergo unit and integration testing similar to that of in-house developed systems,although system testing usually is not performed.
LLC Owners
Members who hold ownership interests in a Limited Liability Company, enjoying rights to profits and decisions in managing the company, while having limited personal liability.
LLC Taxed
Refers to the tax classification options for Limited Liability Companies, where they can choose to be taxed as a sole proprietorship, partnership, or corporation.
Operating Agreement
A legal document outlining the governance and operational protocols of a Limited Liability Company (LLC), agreed upon by its members.
Profit and Loss
A financial statement summarizing the revenues, costs, and expenses incurred during a specified period.
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