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Limited Partnership
A business structure with at least one general partner who manages the business and assumes full liability, and one or more limited partners who invest but have no management role and limited liability. It’s commonly used in investment ventures and real estate.
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Lump-Sum Purchase
A single payment made to buy multiple assets in one transaction, such as buying land and a building together. The…
Long-Term Debt
Financial obligations due more than one year from the reporting date. It includes bonds, bank loans, or lease obligations. Long-term…
Liquidation
The process of closing a business and distributing its assets to creditors and owners. Assets are sold to pay off…
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