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A Business Is an Organization in Where Basic Resources or Inputs

question 80

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A business is an organization in where basic resources or inputs, like materials and labor, are assembled and processed to provide outputs in the form of goods or services to customers.


Definitions:

Shareholders

Individuals or entities that own shares in a corporation, giving them partial ownership of the company.

Professional Corporation

A legal structure allowing licensed professionals, such as lawyers, doctors, or accountants, to form a corporation with certain tax and liability advantages.

Partners

Individuals who share ownership and responsibilities in managing a business or organization.

Paralegal Manager

A professional responsible for overseeing the work of paralegals in a law firm or legal department, ensuring efficiency and compliance.

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