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A Person Who Becomes an Owner by Inheriting or Getting

question 41

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A person who becomes an owner by inheriting or getting a stake in a family business is known as _____.


Definitions:

Accounts Receivable

Amounts owed by customers to an enterprise for goods or services that have been dispatched but not yet reimbursed.

Expenses Account

An account where business expenses are recorded, showing the money spent on operations and services.

Understated

Describing financial figures that are reported to be less than the actual or accurate amounts.

Business Transaction

An economic event that involves the exchange of goods, services, money, or assets between two or more parties that is recorded and has a financial impact.

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