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Briefly explain how research into new technologies gives rise to a positive externality.
Income Tax Return
A document filed with tax authorities detailing income earned, tax deductions taken, and taxes owed for the year.
Entity
Any organization, institution, or being that has a distinct existence, legally recognized as capable of rights and duties.
Profit
The financial gain achieved when the revenues earned from business activities exceed the expenses, costs, and taxes needed to sustain the activity.
Personally Liable
The state of being legally responsible for one's actions on an individual basis, which can result in personal financial liability.
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