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A Business Formed by Two or More Individuals Who Each

question 43

Multiple Choice

A business formed by two or more individuals who each have unlimited liability for all of the firm's business debts is called a:


Definitions:

Remaining Profits

The profits left after all operating expenses, taxes, and dividends have been deducted.

Original Capital

The initial amount of money invested in a business or venture.

Deficiency

The shortfall or gap between what is available and what is required or expected.

Capital Accounts

Accounts representing the ownership interest of shareholders or partners in a company, including their initial investment and subsequent earnings.

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