What Is Backward and Forward Recovery

question 31

Essay

What is backward and forward recovery?

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Definitions:

Debt

Debt is an amount of money borrowed by one party from another, under the condition that it is to be repaid at a later date, usually with interest.

Restrictive Covenants

Provisions in a contract or bond agreement that limit certain actions of the borrower, to protect the interests of the lender.

Corporate Taxes

Taxes imposed on the income or profit of corporations by the government.

Personal Taxes

Taxes imposed on individuals or households based on their income, investments, or other personal activities.