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Partnership Liabilities
Debts or obligations for which partners in a business are mutually responsible.
Partnership Capital
The total resources contributed by partners to a partnership for carrying out its business activities.
Limited Liability Company
A Limited Liability Company (LLC) merges the partnership or sole proprietorship's benefit of pass-through taxation with a corporation's feature of limited liability.
Business Form
The legal structure or organization of a business, such as sole proprietorship, partnership, corporation, or limited liability company (LLC).
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