Define the Following

question 33

Essay

Define the following
-Informal networks

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Definitions:

Limited Liability Company

A form of business organization that unites the personal tax treatment of a partnership or sole proprietorship with the limited legal responsibility associated with corporations.

Tax Purposes

For tax purposes refers to the specific reasons or objectives related to the calculation and payment of taxes to comply with tax laws.

Elect

To choose or select someone or something for a specific role or position through a vote or decision-making process.

Partnership

A lawful collaboration between two or more parties to manage a business and share its profits.