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Business Ownership I

Proprietorships and Partnerships

QuestionAnswer
assets things owned
balance sheet financial document used in business
proprietor owner of a business
partnership two or more owners of a business
limited partnership legal arrangement allowing partner to be liable only for the amount invested
unlimited financial liability owner(s) is responsible for the debts of the business
creditors those to whom money is owed
liabilities what the business owes
sole proprietorship a business owned by one person
Created by: jscharle
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