Compare the basic tax and nontax factors of doing business as a partnership,an S corporation,and a C corporation.Circle the correct answers.
Definitions:
Principals
Fundamental truths or propositions that serve as the foundation for a system of belief or behavior or for a chain of reasoning.
Agents
Individuals or companies authorized to act on behalf of another person or company in commercial transactions.
Payment Default
The failure to make a required payment on a loan or other debt obligation by the due date.
Loan Covenants
Agreements between a borrower and a lender that the borrower must comply with to remain in good standing.
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