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NALA Certified Paralegal Program UPDATED Exam Questions and CORRECT Answers

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Sole proprietorship - One person owns all the assets of the business (including all profits) & assumes all of its debts or liabilities. (Has personal liability). Limited Liability - A creditor would be limited to pursuing their business assets when collecting business debts. General practitioner (GP) - A professional who handles many different kinds of cases. Office-sharing arrangement - Two or more attorneys with independent practices share the use and overhead costs of an office. Partnership - A business or other venture jointly owned by two or more persons who share its profits and losses.

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