Examlex
Equivalent units are the sum of direct materials and direct labour.
Limited Liability Company
A business structure in the United States that provides its owners with limited liability while allowing them to enjoy the tax and operational flexibility of a partnership.
Business Organizations
Formal entities set up for the purpose of conducting trade or providing services, following a particular operating structure and goals.
Partnership
A legal form of business operation between two or more individuals who share management and profits.
Corporation
A legal entity that is separate from its owners, offering limited liability to its shareholders, and is capable of entering contracts, suing and being sued.
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