____________________ Entity Relationships Exist When One Entity Is Related to Only

question 14

Short Answer

____________________ entity relationships exist when one entity is related to only one other entity of a particular type.

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Definitions:

Limited Liability

A legal structure that limits the financial responsibility of company owners or shareholders to the amount they have invested, protecting personal assets.

Double Tax Exemption

A tax principle where certain income is shielded from taxation at both the corporate and individual levels.

Ownership and Control

The legal rights to possess, use, and manage assets or property, and the ability to direct the operations and activities of an entity or resource.

Limited Liability

A legal structure that limits the financial liability of investors or owners to the amount they have invested in a company, protecting personal assets.