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A technician is checking a car with an owner's complaint of poor braking performance and a low brake pedal. The master cylinder is full, and there are no signs of fluid leaks in the brake system. When he holds firm pressure on the brake pedal, the pedal slowly drops. What could be the problem?
FMV
Fair Market Value, the price at which property would sell on the open market between a willing buyer and a willing seller.
Partnership Basis
The amount invested in a partnership by the partners, adjusted for additions, withdrawals, and the individual's share of partnership profits or losses.
Partnership Basis
Refers to an individual partner's investment in a partnership, used for determining the tax implications of the partnership's operations on the individual.
Equal Partners
Individuals or entities that share equally in the rights, responsibilities, and profits of a partnership.
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