4. Accepting an engagement to examine an entity’s financial projection most likely would be appropriate if the projection were to be distributed to a. All employees who work for the entity. b. Potential stockholders who request a prospectus or a registration statement. c. A bank with which the entity is negotiating for a loan. d. All stockholders of record as of the report date. 5. In assessing control risk for purchases, an auditor
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and to find out what kind of legal issues can be involved with this type of center. One of the main sources of legal debates that are prevalent in ambulatory surgery centers is when new owners are trying to “buy-out” an owner that is leaving the business. A lot of centers grapple with the understanding of their present contracts concerning buying and with the legal obligation of selling the center for retail value. When a surgery center needs to sell because of finances, the ability to find someone
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Office Order No. _____ Series of 2014 RULES AND REGULATIONS ON GEOGRAPHICAL INDICATIONS Whereas, Section 4 of Republic Act No. 8293 or the Intellectual Property Code of the Philippines (“IP Code”) provides that geographical indication is an intellectual property right; Whereas, Section 9.1 of the IP Code states that among the functions of the Bureau of Trademarks is the search and examination of the applications for the registration of geographic indications and the issuance of the certificates
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responsibilities for running the business. Sole proprietors own all the assets of the business and the profits generated by it. They also assume complete responsibility for any of its liabilities or debts. In the eyes of the law and the public, you are one in the same with the business. Advantages of a Sole Proprietorship: * Easiest and least expensive form of ownership to organize. * Sole proprietors are in complete control, and within the parameters of the law, may make decisions as they
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Bus-340 Ethical & Legal Issues in Business The Legal, Ethical, and Technological Conerns in Business November 20, 2011 The legal, Ethical, and Technological Concerns in Business Introduction The domain of business ethics describe the ethical responsibilities and set the moral boundaries in perspective of doing the particular business in the particular scenario. Furthermore, the domain of business ethics also analyzes the controversies
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Part A The Report Sole Proprietorship This is the most common form of business. The business and the owner are the same. That means all debts and liabilities are the responsibility of the owner. The advantage of this form of business is that it is so easy to start. Basically, you just start selling stuff or providing a service. Of course, if permits or special licenses are needed, you still have to get those. The disadvantage is that you can't bring in a partner because there can only be one
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Article Review Amber Means LAW 421 November 24, 2014 Jane Schneider Sarbanes Oxley Act Article Review Corporate fraud and mismanagement scandals in publically held companies, along with the public outcry for stricter regulations and accountability in early 2000 led to the passing of the Sarbanes-Oxley Act (SOX Act) of 2002. The primary purpose of the SOX Act is to overhaul the structure of corporate governance regulatory structure and impose stricter regulation and controls on the auditing
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evolution of accounting suggests that accounting processes have developed primarily in response to business needs. Also, economic progress has affected the development of accounting processes. History shows that the higher the levels of civilization, the more elaborate the accounting methods. 1.1 Primitive Accounting People in all civilizations have maintained various types of records of business activities. The oldest known are clay tablet records of the payment of wages in Babylonia around
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address the fundamental question of why financial statements are actually prepared. The basic answer to that is they are prepared to provide financial information about the reporting entity that is useful to existing and potential investors, lenders, and other creditors in making decisions about providing resources to the entity. In turn this means the Framework has to consider what is meant by useful information. In essence for information to be useful it must be considered both relevant, ie capable of
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Small Business Idea Katrina Le`Vere University of Phoenix ACC 561 July 17, 2012 Samuel G. Smith Introduction Starting a business requires a decision governing what form of business organization the company or corporation should operate under. This decision must be made before the business has actually begun operations. The owner must make two initial decisions in order to begin their business operation: the type of business entity
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