To Protect Themselves from Having to Pay for Hazardous Waste

question 133

Multiple Choice

To protect themselves from having to pay for hazardous waste cleanup for waste generated by a previous owner, many potential property buyers have a(n) ____ performed on the property they wish to purchase.

• A) environmental audit
• B) risk audit
• C) environmental evaluation
• D) environmental risk assessment
• E) environmental condition assessment

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Definitions:

Partnership Affairs

Refers to the internal business activities, decisions, and operations managed collectively by partners within a business partnership.

Silent Partners

Investors in a business who contribute capital but do not participate in management or daily operations, and typically their existence is not widely known.

Partnership Debts

Financial obligations or liabilities that are the shared responsibility of all partners within a partnership.

Duty To Serve

An obligation, often seen in utilities and public services, requiring companies to offer services to all customers within a given area, despite the possible financial loss involved.