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What Are the Four Types of Compensation

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What are the four types of compensation?


Definitions:

Liquidation

The winding-up process when a partnership goes out of business.

Dishonored Note

A promissory note that has not been paid at maturity or is in default.

Due

Describes obligations or payments that are scheduled to be paid or completed by a certain date.

Not Paid

Refers to invoices or debts that have not been settled or fulfilled as per their due dates.

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