Examlex
Premise control should be used continuously to confirm the validity of any assumptions used to develop a marketing plan.
Partnership
A partnership is a legal form of business operation between two or more individuals who share management and profits.
Generally Accepted Accounting Principles
The standard framework of guidelines for financial accounting used in any given jurisdiction.
Salary Allowance
A mechanism for dividing earnings of a partnership based on personal services provided by the partners (not an expense).
Interest Allowance
A mechanism for dividing earnings of a partnership based on a percentage of capital balances of the partners (not an expense).
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