The Abbreviation "P

question 41

Multiple Choice

The abbreviation "P.A." in the name "Conrad & Drake, Accountants, P.A." means that this organization is

• A) ​a private association.
• B) ​a professional association.
• C) ​a public association.
• D) ​a publicly administered corporation.

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Definitions:

Trustee

An individual or organization appointed to manage and hold property or assets on behalf of another party.

Dischargeable

Referring to debts that can be eliminated or forgiven through legal processes, such as bankruptcy.

Domestic Support Obligations

Financial responsibilities, such as alimony or child support, owed by one individual to another as ordered by a court.

Unsecured Note

A financial instrument that represents a loan not backed by collateral, typically entailing higher risk for the lender.