GBP Definition

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GBP is United Kingdom Pound Sterling (Currency Code).

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OPERATION AGREEMENT, within an LLC, is similar to the constitution of a corporation. It is drafted primarily because an LLC only has a basic Articles of Organization that is very general in nature. An Operation Agreement has much more specificity as to the formation and operation of the LLC organization.

UNIT-LEVEL ACTIVITY, in Activity Based Costing, is an activity that must be done for each unit of production.

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