Examlex
Repetition of the bottom-up or top-down planning process until all differences are reconciled is sequential planning.
Partnership Assets
The resources and property owned by a partnership that are used for conducting its business activities.
Liabilities Priority
The order in which obligations or debts of a company or individual are to be paid if there are insufficient assets to pay all liabilities in full.
Fraudulent Act
refers to any deliberate deception intended to secure an unfair or unlawful gain, or to deprive a victim of a legal right.
Liability to the Partnership
Obligations or debts for which a partnership is responsible, including those incurred by individual partners acting within the scope of their partnership activities.
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