Examlex
No person may be a director for two or more competing corporations at the same time.
Salary Allowances
A fixed amount or stipend given over and above the basic salary for meeting specific requirements or expenses.
Net Income
The company's ultimate financial gain post all deductions of expenses and taxes from the revenue generated.
General Partnership
A business structure where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Deed. This arrangement involves sharing the profits, liabilities, and decision-making processes of the business.
Individually Liable
The legal responsibility of a single person to pay off debts or fulfill obligations incurred.
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