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Research indicates that:
Partnership
An authorized business structure where two or more partners manage and share in the profits.
Amount Owed
The total money that is due to be paid to a lender or creditor by the borrower.
Accounting Equation
The fundamental principle of accounting that states assets are equal to the sum of liabilities and owner's equity.
Creditor
An individual or institution to whom money is owed by the debtor or the borrower.
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