________ Means That Partners Can Commit or Bind the Partnership

question 92

Short Answer

________ means that partners can commit or bind the partnership to any contract within the scope of the partnership business.

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Definitions:

Break-even Sales

The amount of revenue needed to cover total costs, resulting in neither profit nor loss.

Variable Costs

Costs that vary in proportion to the level of activity or volume of production in a business.

Break-even Point

The break-even point is the point at which total costs and total revenues are equal, meaning the business is neither making a profit nor a loss.

Variable Costs

Costs that change directly and proportionately with the level of production or business activity.