Choose the best words to complete each sentence and form a true statement. William had taken a student loan to pursue a degree in electrical engineering. However, after completing his degree, William missed several payments. Due to this problem, he went into . Although William’s loan servicer is helping him manage the situation, William’s failure to the loan will hurt his rating. BOX A:
Default
Forgiveness
Discharge

BOX B:
Repay
Calculate
Grant

BOX C:
Debit
Credit
Food

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business. true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.