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Discuss inventory control objectives.
Undisclosed Principal
A legal term referring to a situation where an agent acts on behalf of a principal, but the identity of the principal is not revealed to the third party involved in the transaction.
Formalities
Specific procedures, requirements or conditions that are mandated by law or established practice.
Partnership
A form of business organization; specifically, an association of two or more persons to carry on a business as co-owners for profit.
Leases
Contracts in which one party, the lessor, grants another party, the lessee, the right to use an asset for a specified period in return for regular payments.
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