different forms of business and their advantages and disadvantages. Following are the different type of business formed to conduct work: 1. Sole proprietorship. 2. Partnership. 3. Limited liability partnership. 4. Limited liability company. 5. S corporation. 6. Franchise. 7. Corporate. 1. Sole proprietorship, The sole proprietorship is a type of business entity that is owned and run by one individual. All the decisions of the business are made by that individual and there is no legal distinction
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Anthony and Karen were partners doing business as the Petite Garment Company. Leroy owned a dye plant that did much of the processing for the company. Anthony and Karen decided to offer Leroy an interest in their company, in consideration for which Leroy would contribute his dye plant to the partnership. Leroy accepted the offer and was duly admitted as a partner. At the time he was admitted as a partner, Leroy did no know that the partnership was on the verge of insolvency. About three months after
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sole proprietor. If lawsuits are successful then proprietor has to pay the liability with his or her money. The owners of this business form can, and frequently do, combine business and personal funds and property, unlike partnerships, LLCs and corporations, they cannot do this. • Income taxes Due to the fact that sole proprietorship is not distinguishable from its owner, its characteristics
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or market, based on three factors. When determining whether a corporation can properly be referred to as a market leader, the profitability of the company will play a major role. Along with how profitable the company happens to be, the market share volume and value will also be considered. While market leadership does not necessarily require the highest profitability margin or largest market share in the industry, a corporation is normally expected to demonstrate a consistent level of profitability
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One of the most prominent food and beverage companies in the Philippines is the Republic Flour Mills (RFM) Corporation, established in 1958 by aspiring Filipinos. Dr. Salvador Araneta pursued and succeeded his dream of making a way to save foreign exchange and create local jobs by starting out a local flour mill. Along with his wife, Victoria Lopez de Araneta, son-in-law, Joe Con and associates, Jose Concepcion, Sr., BJ Server, Pete Grimm, Albino Sycip, Zoilo Alberto, Leonardo Eugenio, Francisco
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The Corporation: The Corporation is today's dominant institution, creating great wealth but also great harm. This 26 award-winning documentary examines the nature, evolution, impacts and future of the modern business corporation and the increasing role it plays in society and our everyday lives. The birth of the corporation: How the corporation came to be. Originally, corporations were set up to serve the public good. Corporation lawyers gained rights through the US Supreme Court using the 14th
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industrial effluents Establish recreational and shopping facilities for people. Develop a meaningful partnership with others for development Provide better working conditions for its staff members The BG works in close partnership with the City Corporations, the Government of Bangladesh, other private sector companies, multilateral institutions, the environment department, and myriad financial institutions. The BG has its headquarters in Dhaka, Bangladesh. Its Chairman and a Board of Directors frame
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anything illegal without other partners knowledge. Partners have equal amount of voting power regardless of who contributes the most capital to the business. Limited Liability Company is another business one can establish. An LLC is similar to a corporation and a partnership. Members and owners of an LLC are protected from liability from debts and liabilities from the company. For personally and directly injuring someone, or
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Tesco 1. Describe what is meant by motivation. What types of non-financial reward might a company use to motivate employees? Motivation may stem from personal interest such as keeping safe or from external factors such as praise and reward. Non-financial rewards: * appreciation of hard work * a sense of achievement * responsibility and empowerment * opportunity for advancement * a sense of challenge and enjoyment. 2. Describe the effects of an unmotivated workforce
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Accountants 150 Brant Street Burlington, Ontario L1L 1L5 February 18, 2008 Dr. Beatrice Simcoe, President Brant Animal Hospital Professional Corporation 100 Brant Street, Burlington, Ontario L1L 1L1 Dear Dr. Simcoe: We have been engaged to audit the financial statements of Brant Animal Hospital Professional Corporation (“the Company”) for the year ended December 31, 2007. Canadian Generally Accepted Auditing Standards (GAAS) requires us to communicate at least annually
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