List and Discuss Five Advantages and Five Disadvantages of Electing

question 13

Essay

List and discuss five advantages and five disadvantages of electing to be taxed as an S corporation over a C corporation or a partnership.

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Definitions:

Situational Attributions

The process of attributing a person's behavior to external or situational factors.

Fundamental Attribution Error

The tendency to overemphasize personality-based explanations for behaviors observed in others while underestimating the power of situational influences.

Dispositional Causes

refer to internal factors such as traits, beliefs, and attitudes that are thought to drive an individual's behavior.

Fundamental Attribution Error

The tendency to attribute others' behaviors to their character or personality, while underestimating situational factors.