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According to the text, overall:
Profits
The financial gain realized when the revenue generated from business activities exceeds the expenses, taxes, and costs involved in maintaining the operation.
Sole Proprietorship
A business owned and operated by a single individual, with no legal distinction between the owner and the business entity.
Legal Formalities
The required procedures or steps mandated by law for ensuring that legal acts or documents are valid and enforceable.
Officers
Individuals appointed or elected to oversee the management and daily operations of a corporation or other entity, typically holding positions such as CEO, CFO, or President.
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