Guaranteed payments to partners represent compensation to members of the partnership in exchange for time invested, services provided or capital provided.
Payments, in fact, represent a salary for partners, which does not depend on whether the partnership is successful or not.
Guaranteed payments to partners can have various tax implications that need to be carefully considered so that recipients can avoid penalties or significant tax burdens.
Evaluation costs are the fees a company pays for discovering defects in its products before they are delivered to customers; they are a form of quality control.
The articles of association can be seen as a user manual for the company, defining its purpose and outlining the methodology for carrying out the necessary day-to-day tasks.
When a company or government agency buys or leases existing manufacturing facilities to launch new manufacturing activities, this is called an investment in existing facilities.
The Code of Ethics sets out the ethical principles of the organization and the best practices to be followed with respect to honesty, integrity and professionalism.