forms such as sole traders, partnerships, franchises, private limited and public limited. Types of business in the Public sector Charitable Organisation Charitable organizations are a kind of business that fit within the nonprofit category meaning all profits are re-used in order to re-invest back into the business. In general, this type of entity is sometimes referred to as a charity or foundation, which can be run publicly or privately and has unlimited liability or in other words has full
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Exploring Business Activity Scenario: Tesco’s core purpose is to create value for customers to earn their lifetime loyalty. (Source: www.tesco.com). Tesco is Cancer Research UK Charity of the Year for 2012. They aim is to raise around £10million to help find the cure for cancer but also help keeping families together by prolonging lives. Cancer Research is therefore the leading charity to help patients suffering with cancer. Task 1: There are different aspects of business activity
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Limited Liability Corporation and Partnership Jacob Sanchez FIN-419 December 22, 2014 Michele Huss Limited Liability Corporation and Partnership Introduction Many people attempt to start businesses annually and need a little guidance on what their best choices are for forming the blueprint of their future endeavors. Limited Liability Corporations and Partnerships are a couple choices that can be chosen by some entrepreneurs. They have some things in common, and also have distinct differences
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disadvantages of each entity and the tax consequences connected with each entity. The business structures that will be discussed with Mr. Owner will include sole proprietorship, partnerships which include general partnerships and limited liability partnerships and corporations which include subchapter or S corporations and limited liability corporations. Sole Proprietorship A sole proprietorship is the simplest structure and the most inexpensive business to start. The owner has complete control over the
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would be better because that way managers will avoid to inflate stocks value by overstating profits. 6)Propietorships, Partnerships and Corporations Advantages of Proprietorships and Corporations * Ease of formation * Subject to few regulations * No corporate income taxes. Disadvantages: * Difficult to raise capital * Unlimited liability * Limited Life * Often set up through LLC and LLP Corporations Advantages * Unlimited Life. * Easy transfer ownership
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P1: Describe the type of different businesses, purpose and ownership of two contrasting businesses Local A local business is a new business that is set-up usually around the area that you live in. It’s a business that may have a few branches but only within the city. The majority of local businesses are usually owned by one person. An example of this is Manor Park Fisheries. National A national business is a business that is only U.K based which means they operate only throughout the country
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My Task – P1 Scenario –I Barry Andrews work as a junior journalist for the local newspaper which is planning to run a feature article on businesses. Tesco: Jack Cohen was reluctant to go back to tailoring after the First World War. This is when he started selling stuff on market stalls. In 1919, Jack Cohen started selling surplus groceries from a market stall in the east end of London. He then owned a number of stalls which at first were ran by his family but after time he gradually employed non-family
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Organisations Public Limited Company * A public limited company is the largest type of business. These companies end their names with plc, the shares are usually traded on the stock exchange and can be owned by members of the public and institutional investors such as large banks and insurance companies. This type of business can raise a large amount of money by selling shares and use this to expand or develop the enterprise. All shareholders have limited liability. Limited liability is when the shareholders
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2. Corporate Nature and Classification. It is decided that the organizational form for this firm should provide limited liability for the owners. The owners will include John, Mary, Paul, and some members of their respective families. One of the features of the corporate form is limited liability. Ordinarily, however, corporate income is taxed at both the corporate level and the shareholder level. Which corporate form could the firm use to avoid this double taxation? An organization like
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11/09/2015 Arnold Harvey Introduction How a company organizes itself in order to conduct business is called business structure (Parrino, Kidwell & Bates, 2012). The size of the company, the type of business, the financial risks, the type of liability, the amount of man power needed among other factors play an important part in the choosing of a business structure that can be more efficient and more beneficial for the company and sometimes the consumer. Sole Proprietorship A one owner company
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