Examlex
Uncollectible accounts must be estimated because it is not possible to know which accounts will not be collected.
Principal Characteristic
The most significant or defining feature of an object, concept, or entity.
Limited Liability
A legal structure that protects a company's owners or shareholders from being personally liable for the company’s debts or liabilities.
Limited Life
A term indicating that an entity or asset has a finite period of usefulness or existence.
General Partner
A partner in a partnership responsible for management decisions, who has unlimited liability for the debts and obligations.
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