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A Business Form in Which the Partners Are Not Personally

question 104

Multiple Choice

A business form in which the partners are not personally liable for the malpractice of any of the other partners is called a ________.


Definitions:

Monthly Interest Rate

The interest rate applied to a loan or debt for one month, often used to calculate the monthly interest payment.

Variable Cost

Costs that vary directly with the level of production or the volume of services provided.

Inventories

The raw materials, work-in-process products, and finished goods that a company holds for the purpose of sale in the near future.

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