telling the franchisee where the business should be located and to hire, or how to run the day-to-day operations. Day-to-day operations are usually left up to the franchisee to decide, unless otherwise specified in the contract. Generally, the franchisor will provide some supervision and control to protect the name and reputation, such as food and products being the same. Caffeine is a chain-style business operation. This is important because under this business style franchises are
Words: 637 - Pages: 3
sole proprietorship business in a service or manufacturing industry, I will discuss the plan of starting a Business Consulting Agency to provide assistance to businesses. Organization & Communication The relevant issues associated with opening a consulting business are building cliental; establishing lasting business relationships with business owners and providing quality service when needed. The primary services that are offered include market feasibility studies, business plans, operational
Words: 932 - Pages: 4
actually happened, and it’s unbiased. Comparability and consistency are two secondary qualities that make accounting information useful. Comparability gives users the ability to compare information between companies in the same industry to make their business decisions. Consistency is another important quality for accounting information to be
Words: 741 - Pages: 3
the Task Task Instructions: Write a report (suggested length of 5–7 pages) about the forms of business organizations listed below. Your report should have a subheading for each business form with a brief description of the business form and a brief discussion of the key characteristics, advantages, and disadvantages of that form of organization. Differentiate among the following forms of business by explaining how at least six of the seven key characteristics listed in the introduction to this
Words: 337 - Pages: 2
LIT1 Task 1 B.S Accounting A. Business forms are categorized into six different organizations. These business forms make up proprietorships, partnerships, corporations, and Limited liability companies. All forms of business have characteristics descriptive of each business form. Identifying the characteristics of each business while accounting for the advantages and disadvantages will help to clarify each form of business. 1. a. Sole proprietorship: A sole proprietorship is a company formed
Words: 2153 - Pages: 9
There are three legal forms of business: Sole Proprietorship, Partnership, and Corporation. The inventor scenario sounds like the business would start as a Sole Proprietorship since there are limited finances and the inventor’s net worth is low. However, with the new technology being introduced this business could quickly grow and eventually turn into a Partnership or possibly Corporation. A Sole Proprietorship is the easiest business to start with little overhead cost. All decisions are made
Words: 501 - Pages: 3
is a very common form of small business organization. Benefits include having complete and total control as to how the business is run, marketing, hours, as well as the immediate dissolution of the business. Disadvantages range from personal liability for the business. A sole proprietor is also held responsible for all taxes for the business as personal income. Liability: A sole proprietor is held personally liable for any errors or damages caused by the business. The assets of the owner are at
Words: 734 - Pages: 3
proprietorship or sole proprietorship is a business operation in which one person or one entrepreneur owns or holds the business. It is one of the simple business operations because it gives full control of the business and it is simple to get started with and set up. This is perfect for small business that is just starting up, small stores like retail stores, hardware shop, retail shops , barber shops, repair shops or other small business. You own the business and you’re your own boss. Moving on
Words: 352 - Pages: 2
Small Business Idea University of Phoenix Accounting Acc/561 Norsey Dorris June 27, 2012 The government has decided to kick start another program to release funds for small businesses across the country. This can be an exciting and overwhelming experience at once to start-up a new business, especially with the help of federal funding. To incorporate or not to incorporate, that is the question. There are many decisions to make once a business idea (hopefully a business plan has been
Words: 1203 - Pages: 5
An insurance agent career can be fulfilling and lucrative. Agents help people protect their homes, businesses and personal belongings. Depending upon what insurance agent career path is taken, agents may also be helping others to protect their families. Insurance agents have unlimited earning potential. But is an insurance agent career the right choice? The description of an insurance agent career has changed over the years, but the essential job description remains the same. Agents have to enjoy
Words: 432 - Pages: 2
