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Pete is obsessed with putting things in order.Among other things,he alphabetizes his old record collection,neatly folds and organizes his clothes by type and color,and maintains all of his financial records in strict chronological order.He is constantly checking these items to make sure that they are in order,and he feels great distress when they are not.It is likely that Pete has:
Net Income
The total profit of a company after subtracting all expenses from revenues, also known as the bottom line.
Limited Life
The concept that an asset or an entity has a finite existence or operational period before it ceases to be useful or exist.
Corporation
A legal entity that is separate and distinct from its owners, providing them with limited liability, and is permitted to own assets, incur liabilities, and sell securities, among other rights.
Partnership
A legitimate business model involving collaboration between two or more people in managing and dividing earnings.
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