Examlex
It is necessary for a company to use the same depreciation method for all of its depreciable assets.
New Partner
An individual who joins an existing partnership, contributing capital, and sharing in profits, losses, and liabilities.
Unlimited Liability
A legal structure where a business owner or partners are personally responsible for the debts of the business.
General Partner
An owner of a partnership who has unlimited liability and is active in the management of the partnership.
Capital Balance
The amount of money that a partner has invested in a partnership minus any withdrawals or distributions.
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