Examlex
Match each of the following terms with the appropriate definition.Use each term only once.
A.Sole proprietorship
B.Partnership
C.Corporation
D.For-profit company
E.Not-for-profit company
-------------1. A company with the goal of maximizing the owners' wealth
-------------2. An organization that exists to provide goods and services to a target group at a reduced cost or no cost
-------------3. A company owned by two or more individuals
-------------4. This type of organization is taxed twice; first as a business and second when shareholders receive dividends
-------------5. A company with one owner
UCC
The Uniform Commercial Code provides an exhaustive array of legislation to control commercial operations within the United States.
Substantially Impaired
Refers to significant damage or deterioration, often in the context of property or assets, affecting value or functionality.
Revoke Acceptance
The act of legally rejecting a previously accepted offer or product due to defects or contract breaches.
Partial Acceptances
In business and contract law, the agreeing to or approval of a portion of a proposal or offer, rather than the whole.
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