Examlex
Profitability ratios are distorted by inflation because profits are stated in current dollars and assets and equity are stated in historical dollars.
Working Capital
The difference between a company's current assets and current liabilities, indicating the short-term financial health and operational efficiency.
Dissolved
The process of officially closing and ending the existence of a company or partnership.
Operating Agreement
An agreement in which the members of a limited liability company set forth the details of how the business will be managed and operated.
Limited Liability Company
A company organization style that merges the protective limited liability of corporations with the advantageous pass-through taxation of sole proprietorships or partnerships.
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