Business Organizations Task 1 Part A 1. Sole proprietorship: This type of business is known to be the easiest business for an individual to develop. A sole proprietorship is owned by one person, who is the person that will make the decisions in regards to the business and does not share any responsibilities with anyone else as the business owner. • Liability: One person is liable for the debts of this type of business, this will include their personal assets if necessary. • Income Taxes: Sole
Words: 1350 - Pages: 6
4. Consideration: Lastly, consideration is the price that you pay for the promise to another. The contract is a bargaining process. In other words, to consider there is a consideration, Teresa must provide benefits to the volunteers for their performance. It is known in the articles that the volunteers are voluntary to provide service because some of them are from Gaslight Production and some of them are willing to help Teresa. Their actions are voluntary, which means that Teresa does not provide
Words: 1288 - Pages: 6
board to add value Companies should have a board of an effective composition, size and commitment to adequately discharge its responsibilities and duties. • Recommendation 2.1: A majority of the board should be independent directors. • Box 2.1: Relationships affecting independent status • Recommendation 2.2: The chair should be an independent director. • Recommendation 2.3: The roles of chair and chief executive officer should not be exercised by the same individual. • Recommendation 2.4: The
Words: 1034 - Pages: 5
ANNUAL REPORT 2010 -11 TECHNO_LOGICAL TECHNO_LOGICAL In many ways, satisfying the Indian customer is probably much more challenging than satisfying a customer in another market. The country has an obsession for fuel efficiency, when it comes to choosing automobiles (and rightly so, since about three-fourths of India’s crude oil requirement is imported). Extracting more mechanical energy for the car from every drop of fuel is a designer’s challenge. But it is vital for the consumer, the
Words: 50525 - Pages: 203
has a material impact on the other party. This discharges the other party from its contractual obligations. Consequently, the other party may have grounds to sue for damages.2. Minor breach Minor breach occurs when the essential terms of the contract have been fulfilled but the other party is inconvenienced rather than suffering loss or damages. The nonbreaching party still has contractual obligations, but could suspend performance of the contract.3. Anticipatory breach Anticipatory breach occurs
Words: 5733 - Pages: 23
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 29, 2012 Commission file number: 1-5256 V. F. CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania (State or other jurisdiction of incorporation or organization) 23-1180120 (I.R.S. employer identification number) 105 Corporate Center Boulevard Greensboro, North Carolina
Words: 79911 - Pages: 320
shares control of the management of the business. B. The sole proprietor keeps a portion of the profits from the business. C. Profits are not taxed as the personal income of the sole proprietor. D. A sole proprietor is personally liable for obligations of the business. 3) Which of the following is a type of ADR? A. Consultation B. Mediation C. Case argument D. Case analysis 4) Which of the following is an extension of negotiation? A. Arbitration B. Minitrials C. Neutral case evaluations
Words: 2279 - Pages: 10
specific instructions and authorization had been arranged already. • Control: The owner or sole proprietor has complete control of the business. • Profit retention: Profits belong to the individual who started his business (owner) just because all the duties of the business are to be kept in notice by him solely and to perform individually regarding the benefits so that there should be no partners to proceed
Words: 2504 - Pages: 11
Table 1 Performance analysis of EPM for the past 3 years from 2006 to 2008 Table 2 Percentage of increase/decrease in the account balances Table 3 Increase of price of feed and production cost In late 2008, the operating cash was running low because of the problems in cash liquidity. From the abstract of account above, we found that the cost of sales was increasing from 2006 to 2008 and it is too close to the revenue amount. However, in 2007, the cost of sales increased while the revenue did
Words: 1541 - Pages: 7
compliance than others. Sarbanes-Oxley has been called by many the most far-reaching U.S. securities legislation in years. Now, all companies required to file periodic reports with the Securities and Exchange Commission (SEC) have new duties for reporting and corporate obligation. Non-compliance comes with significant penalties. Compliance with the legislation is not a difficult task, it should be addressed with a method using proper analysis and study. Compliance should be part of the plan and implemented
Words: 602 - Pages: 3
