Examlex
It is not necessary to ensure that each adjusting entry balances.
Partnership Assets
Resources or items of value owned by a partnership that are used in the operation of the business and subject to division among partners according to their agreement.
Voluntary Dissociation
The act of a member choosing to leave a partnership or business entity according to the agreement terms or state law.
Dissolution of Partnership
The dissolution of partnership refers to the process of terminating the legal relationship between partners and winding up a partnership's business activities.
Partners' Consent
Agreement or approval from all partners in a partnership agreement before certain actions can be undertaken.
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