AGGREGATE THEORY Definition

AGGREGATE THEORY is a theory of partnership taxation in which a partnership is considered as an aggregate of individual co-owners who have bound themselves together with the intention of sharing gains and loses; under this theory, the partnership itself has no existence separate and apart from its members.

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COST CEILING, in project management, is the sum of the Project Cost Target plus the projects Contingencies cost allowances.

EX-WORKS see EX-FACTORY.

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