SOLE PROPRIETOR Definition

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SOLE PROPRIETOR is an individual who owns a business as opposed to stock in a corporation. A sole proprietor pays no corporate income tax but has unlimited liability for his/her business debts and obligations. See SOLE PROPRIERTORSHIP.

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COST CENTER is a non-revenue-producing element of an organization, where costs are separately figured and allocated, and for which someone has formal organizational responsibility.

ORDER INTAKE is all orders which were legally concluded during the respective accounting period under review and have also come into effect.

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