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Click on the first letter of a word or term to jump to that section of the glossary. For example, click on the letter "M" to jump to the section containing the definition for "Mortgagee."
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GAAP
General Accepted Accounting Principles
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General Partnerships
A form of business entity in which two or more co-owners engage in business for profit. For the most part, the partners own the business assets together and are personally liable for business debts.
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IRA
Individual Retirement Account
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IRS
Internal Revenue Service
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ISO
Independent Servicing Organization
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Joint Venture
Is a general partnership typically formed to undertake a particular business transaction or project rather than one intended to continue indefinitely. Most often, joint ventures are used in real estate matters where two or more persons undertake to develop a specific piece of real property.
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