people to finance and operate a business. Partnerships, unlike sole proprietorships, are entities legally separate from the partners themselves. In a general partnership, however, profits and losses flow through to the partners’ tax returns. Each general partner has equal responsibility and authority to run the business. Each partner should be involved in day-to-day operations of the business, and should make management decisions. Any partner may represent the business without the knowledge of the
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TAXES – All income earned by the business is recognized as personal income by the owner. There is no legal difference between the owner and the business. • LONGEVITY/CONTINUITY – The business fails to exist if the owner dies, or quits. • CONTROL – The owner is the business; the business and the owner are the same. There is only one owner. Sole proprietors have full autonomy of the business (Forms of Business Organization, n.d.). • PROFIT RETENTION – If the business makes a profit, that money belongs
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considered in law to represent the other called the principal in such a way as to affect the principal’s legal position in relation to other parties. This presentation will explore the below: • Definition of agency • Creation of agency • Effects of contracts made by agents • Rights and duties between principal and agent • Termination of agency DEFINITION OF AGENCY An agent is a person employed to do any act for another or to represent another in dealings with third persons. Cap 23 Laws of Kenya
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Business Structure Advice Corporate Finance/571 Robert Freitas, Jr August 11, 2014 From: Sent: December 2, 2012 To: John Owner CC: Subject: Advice in starting your business Business Structure Advice Dear John Owner, Starting a business is an extremely important decision and will be a very demanding venture that you will partake in. You ask for my advice regarding business structures and how to continue given your recent formulated business plan. I have enclosed a chart that
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the parent the employer is obligated to observe the Family and Medical Leave Act of 1993. Although employers are required to observe the law the employer can not be bias concerning the employee’s situation. The law is not base on whether the employer agrees or disagrees with what, why or who the employer’s only concern is the observation of the law. The employer’s only concern if the company falls under the requirement is to follow the FMLA or face persecution. There is no mention in the act
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Business Organization Diane decided to open a soul food restaurant in the local community on her own to make money a sole proprietorship and using family tradition recipes. There was money being made but not as should have due to being the only one doing all the tasks which make it harder. Diane began thinking and then talked to other family members to see if there will be a partnership created to make the business easier and not all on one person. All in partnership contributed money
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treated. Then there are some children who may put their differences aside and will take care of their parent due to their believe and morals to do the right thing. Explain whether the size of the business can have any effect on whether Tony is eligible for family leave under the FMLA. The size of the business can have an effect on whether Tony will be eligible for family leave under the
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friend when he was discussing his personal business about his father. Herman took the conversation and made it fit into his decision for wanting to deny Tony Family Medical Leave. Herman acted egotistical and irrational about Tony’s dilemma with his father. Herman’s talk with his father and last threat that he made to Tony by was not professional or thoughtful. Herman should do a reality check and think of family while thinking of making his business prosperous. Tony is placed in a horrible situation
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The intricacies of doing business in Indonesia will present a mystery to newcomers. Rest assured that there are many “seasoned veterans” that can assist you in your transition to your new job in Indonesia or assist you in making your business venture in Indonesia a success. Expatriate Business Associations Join an expatriate business association and get involved! A sure way to keep in touch with what is going on in the business world around you. Foreign Investment and Company Establishment
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responsibilities by taking leave for certain reasons. The law is intended to promote stability and economic security for families, as well as national interests in preserving the integrity of the family. FMLA applies to any employer in the private sector, which is engaged in commerce or in any industry or activity affecting commerce, and who has 50 or more employees each working day for at least 20 calendar weeks in the current or preceding calendar year. The law applies to all public institutions (state and
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