Please go through the key terms of business associations. Choose the appropriate term in order to form a proper sentence.

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A(n) __________ is operated by partners who share profits and are liable for losses.
partnership
corporation
institution
association
 
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Members of a limited liability company are responsible to pay up the initial _________.
tip
contribution
charge
graft
 
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Companies may employ managers who are in charge of the day-to-day business __________.
activity
power
authority
mean
 
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The board has to establish its own ___________ of procedure.
bylaws
law
act
rules
 
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The corporate documents must specify the ____________ office of the company.
principal
premises
central
local
 
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The company is primarily regulated by its articles of ____________ .
members
meeting
association
minutes
 
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A public __________ company is owned by its shareholders.
limited
liability
lawful
liquidated
 
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A limited partnership consists of limited and general __________.
members
owners
partners
shareholders
 
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The first __________ on the agenda is to approve the minutes of the previous meeting.
unit
point
item
heading
 
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The AGM shall adopt resolutions concerning the distribution of the ___________.
savings
profit
products
interest
 
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The registered capital of the company may be paid in _________ or in kind.
notes
cash
funds
coins
 
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A company may be established for a limited or unlimited __________ of time.
amount
volume
span
period
 
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