Class, thoughts on the key differences between C-Corporations and S-Corporations, and the tax advantages that S-Corporation offer that are unavailable through C-Corporations?

200 words each question minimum.also, please provide reputable reference http or url address/ link is fine or APA format.

1. Class, thoughts on the key differences between C-Corporations and S-Corporations, and the tax
advantages that S-Corporation offer that are unavailable through C-Corporations?

2. Class, please discuss what accrual accounting is and create a specific example that illustrates how an accrual affects both the income statement and the balance sheet.