What Is Temporary Working Capital

question 41

Essay

What is temporary working capital?

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Definitions:

Partnership

A legal form of business operation between two or more individuals who share management and profits. The specific terms are detailed in a partnership agreement.

Silent Partners

Investors in a partnership who contribute financially but do not participate in management or day-to-day operations of the business.

Partnership Debts

Debts that are the responsibility of the business partnership as a whole, not just of individual partners.

Duty to Account

An obligation to provide a detailed report of financial transactions or holdings.