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Income Sharing Ratio
The proportion or percentage in which partners in a business agree to distribute the profits and losses among themselves.
Capital Balances
This term refers to the amounts of money partners in a partnership have contributed or that represents their share of ownership.
Replacement Cost
The current cost of replacing an asset with a similar new asset in terms of capability and function.
Inventory
The total amount of goods and materials held by a company for the purpose of resale or production.
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