Loud and Jose have big dreams they want to see fulfilled. Lucky for them they have Miriam, who is a wealthy investor wanting to invest in their dream. Miriam will provide the capital with minimal participation in the business, but is wanting to profit from the business. Business Entity, Control, Taxation, Liability Since there are three individuals wanting to gain and contribute to this sports bar and restaurant the best suitable entity would be as a general partnership. A general partnership
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through 310.1.2-06 Business Forms Sole Proprietorship – Sole proprietors are individuals doing business on their own. They have no partners or shareholders. A sole proprietor may have a free-standing business where he works or he may be a contractor or freelancer and travel as near or far as he pleases. If he chooses to move to another location or State, he can continue his business there. Some advantages to this type of business are that the sole proprietor makes all business decisions, has creative
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unexpectancies are dealt with in accordance to maintaining a common working ground that is suitable for the two to be successful. A balance between work and family responsibilities are essential for an employee's job success in the ever changing business world of today. Not knowing the unknown is where the ultimate preparation rest for employees as they implement measures in their daily lives to accommodate and handle such adversity that they may face to balance their time and maintain their
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Small-Business Idea Paper University of Phoenix ACC 561 Small-Business Idea Paper There are numerous factors affecting the type of business organizations that an owner should form, so that it is most beneficial for him and the product or services provided. In this paper, the four business structures are evaluated and the association of the legal, tax and accounting implications with the different structures are also discussed. Suppose that the government has released funds to set up small
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two legal forms of doing business. Discuss their differences and the benefits and liabilities between the two. Provide an example business. What would be the preferred form of business, and why? Sole proprietorship and corporation are two different forms of the several legal forms of conducting business. Sole proprietorship is a single person owning a business and the owner is the decision-maker with total control. Because it is the simplest form of starting a business several advantages exist,
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worker is an employee or an independent contractor, courts consider the following: (1) how much direction and control the employer exercises over the details of the person’s work, (2) whether the person is engaged in an occupation or business distinct from that of the employer, (3) whether the work the person performs is usually done under the employer’s direction or without employer supervision, (4) who supplies tools used by the person, (5) the duration of
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Explaining Basic Accounting Concepts and Business Structures ACT/537 January 9, 2012 Explaining Basic Accounting Concepts and Business Structures A solid understanding of basic accounting is arguably one of the most essential skills future businesses leaders require for success. The business world operates to make a profit, and in order to do so, managers must understand the numbers. Managers from marketing, production, management, or information systems should each understand fundamentals
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Legal Form of Business Paper Many different forms of business exist. Some of them are more common than others. Sole proprietorship, partnership, limited liability partnership, limited liability company, S corporation, franchise, and corporate form are the seven forms of business that we are going to discuss in this paper. We are going to develop scenarios in which each of these forms of business would be the preferred form and justify why the corresponding business form would be most preferable
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The most basic of all business legal structures is the sole proprietorship. For new start-ups the choice of becoming a sole proprietorship is the simplest of all business forms but is it the best? I would talk about the pros and cons of a doing business as sole proprietorship. A sole proprietorship is a business of one without corporation or limited liability status. The individual represents the company legally and fully. Common proprietorship structures include part-time businesses, direct
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As the arbitrator, how do you settle this grievance? What factors from the case come into play in making your decision? When analyzing this particular case, I gathered information from both sides and added my own information to conclude my decision favors towards company. I came to this conclusion based on a few critical pieces of information presented from each side. Not all union employees are eligible for the new dental plan because they needed to have three months of active employment and
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