ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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GENERAL PARTNERSHIP Definition
GENERAL PARTNERSHIP is one or more partners who are jointly and severally responsible or liable for the debts of the partnership.
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SELLER GUARANTEE DEPOSIT is a good-faith deposit of funds that is made to demonstrate that the seller is confident enough in their technical skills and time management abilities to guarantee that they will complete the project 100% and on time. If the project is completed successfully, then the seller receives back the Seller Guarantee Deposit (minus the Seller Guarantee Deposit Processing Fee). If the project is not completed successfully, the seller forfeits the entire Seller Guarantee Deposit as liquidated damages for the breech.
CANCEL SUPPORTING DOCUMENTS is to mark supporting documents as having been used to support a transaction so the same documents can't be used to support another transaction. An example is stamping vouchers "paid.”