Examlex
Besides the statutory requirements,reorganizations must meet several judicially created doctrines.
Sole Proprietorship
A business owned by a single individual who is responsible for its liabilities and entitled to its profits.
Proprietorship
A business structure owned by a single individual, where the owner and the business are legally treated as the same.
Basic Accounting Equation
Assets equal liabilities plus equity; the foundational equation in accounting expressing the principle of balance in a firm's financial position.
Owner's Equity
The remaining value of a company's assets after all liabilities have been subtracted, indicating the stake of ownership in the enterprise.
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