Examlex
A partner is under no duty to maintain the secrets of the business.
Ending Inventory
The worth of merchandise ready for sale when an accounting period concludes, determined by adding beginning inventory and purchases, then subtracting the cost of goods sold.
Retained Earnings
The cumulative amount of profits kept in a company after dividends are paid, used for reinvestment in the business or to pay down debt.
Comprehensive Income
The total change in equity for a reporting period other than from transactions with owners, including all revenues, gains, expenses, and losses.
Equity
The value of an owner's interest in a property or business, determined by subtracting liabilities from assets.
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