Examlex
Complete the identity.
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GAAP
Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting used in any given jurisdiction, notably in the United States.
Limited Liability Company
A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
Tax Treatment
The specific methodology applied to determine the amount of taxes owed by an individual or business.
Limited Liability
A legal structure where a company's owners are not personally liable for the company's debts or liabilities.
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