Media Summary As part of our week one assignment, we were asked to review a video pertaining to accounting introductions and definitions. Ms. Samantha Boncheck who spoke to the fascinating world of accounting even though many non-accountants would struggle with such a perspective. She defined the term “Accounting” as the means of collecting financial data about a company, recording that data, analyzing it, and then communicating what it means to other people (Films Media Group, 2009Year)
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Business Structures Business Structures Entrepreneurs should focus on the determining the best business structures based on their needs and the needs of their businesses (Cody, 2007). Entrepreneurs will work comfortably and obtain enough income upon choosing business structures that fulfill their needs accurately. The video shows different business structures from which business entrepreneurs can choose the most suitable structure. The business structures
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Business Entities Lisa Ramos BUS311: Business Law I Instructor: July 28, 2014 Business Entities I. Introduction “Business owners are wise to consider the fundamental issue of organizational formbefore they become too deeply immersed in business operations.” (Rogers, 2012) When it comes the laws of business there are is a large range of categories and topics which include the type of entity to become and how it affects contracts, liabilities and tax information. We must be aware that
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Business Organization The first thing to understand when starting a business is how the structure of the company will be set up. There are several types of business entities and each entity has its own particular benefits and list of drawbacks. In this paper I will enumerate the following types of business structures: sole proprietorship, partnership, corporation and limited liability corporation, how they differ from each other, their advantages and disadvantages. Choosing the wrong structure
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Forms of Business Legal issues for Business Organizations LIT1 July 23, 2012 * * * * * * * * * * * * * There are different types of business organizational structures. These structures include sole proprietorship, general partnership, limited partnership, C-Corporations, and S-Corporations. These structures each have advantages and disadvantages, depending on the particular situation or desired effects the business owners may
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Business Law I MGMT235-1401A-05 January 15, 2014 For this discussion board post we are to discuss the topics of Agency Law and the different principals and ideas that go along with it. There are three types of principles that exist; they are disclosed, undisclosed, and partially disclosed principals. A disclosed principle refers to when there is a 3rd party involved. The person/people are not hidden by the company to the person or persons that they are working with. For example, Let’s
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Quiz 2 Intro to Business * Question 1 3 out of 3 points | | | The majority of businesses today are formed asAnswer | | | | | Selected Answer: | sole proprietorships. | Correct Answer: | sole proprietorships. | | | | | * Question 2 3 out of 3 points | | | Based on data gathered from the U.S. Census Bureau, _____ are less common than _____ but they tend to be larger and more profitable than _____.Answer | | | | | Selected Answer: | partnerships; sole
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liability holding companies. Also called unlimited company. Definition of 'Unlimited Liability' A type of business where owners share joint and several responsibility for the entire amount of debt and other liabilities amassed by the business. Unlimited liability is not capped at a maximum amount and exists regardless of the amount of investment each owner has personally made. If the business is unable to meet any financial obligations or settle any outstanding liabilities, the owner's personal assets
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Unit 1 Assignment 1 1. Finance: The science that describes the management, creation and study of money, banking, credit, investments, assets and liabilities. Finance consists of financial systems, which include the public, private and government spaces, and the study of finance and financial instruments, which can relate to countless assets and liabilities. Some prefer to divide finance into three distinct categories: public finance, corporate finance and personal finance. All three of which
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According to the instructions in Taskstream, you may conclude the task is asking you to include 3 components for Part A of Task 1 which are: 1. Six of seven characteristics 2. Advantages and disadvantages for each business organization 3. Brief description for each business organization Thus, regarding the format for Task 1 Part A for LIT1, the Bullet/Listing approach (mentioned in the Task 1 Instructions) is below, which basically is you’ll describe each characteristic in usually about
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