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Mutual Agency
The legal principle in a partnership where each partner is empowered to make decisions and enter into contracts on behalf of the partnership.
Partnerships
A form of business structure where two or more individuals share ownership, profits, and liabilities, operating under a legal partnership agreement.
Distributions of Income
The process by which earned income or profits are paid out to stakeholders, such as dividends to shareholders.
Loss
The negative financial result from operations, investments, or other business activities where expenses exceed revenues.
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