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Bob and Ray,two 60-year olds,are drinking beer in a bar.They are discussing college football and which school has the best team.The discussion becomes heated.Finally,in a moment of range,Bob strikes Ray in the face with a beer bottle.Ray falls to the floor,his cheek bone shattered and his eyeball sliced.The most serious offense Bob has committed is:
Partnerships
A form of business structure where two or more individuals share ownership, profits, and liabilities, operating under a legal partnership agreement.
Distributions of Income
The process by which earned income or profits are paid out to stakeholders, such as dividends to shareholders.
Loss
The negative financial result from operations, investments, or other business activities where expenses exceed revenues.
Closing Entry
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones.
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