structure: sole proprietorship, partnership, or corporation. A sole proprietorship is owned and operated by one person; while a partnership consists of two or more persons carrying on a business for profit. The business is not a separately taxed entity, but rather, a conduit where the profit or losses of the partnership flow through to the partners. Partnerships are relatively easy to set up, but they do not offer protection from liability. A corporation is a legal entity that is separate and distinct
Words: 409 - Pages: 2
MAJORITY RULE (Foss vs. Harbottle, 1843) Supremacy of the majority is the fundamental principle of company law. Generally, majority members are entitled to exercise powers of the company and control its affairs. A group of persons controlling ¾ of the votes would have a complete control of the company, and a little more than half the votes would give considerable influence allowing control over appointments to the Board. The Act lays down certain matters, which have to be decided by shareholders
Words: 832 - Pages: 4
THE COMPANIES ACT, 1956 DEFINITION AND NATURE OF A COMPANY Learning Objectives At the end of this chapter, you will be able to • Identify the meaning and nature of a company • Identify the important characteristics of a company Introduction Today, we will begin with the Companies Act that was passed in 1956. In the lecture of today we will discuss the meaning and nature of a company. Do you know what do we mean by company? In simple words, a company can be defined as a group of persons
Words: 894 - Pages: 4
should ethical and social responsibility considerations have in Riordan’s strategic management plan? Ethics is defined as the process of evaluating problems that are within the business environment and is related to the employees, management, and corporation. Enabling a company a balance between the ethical and social responsibilities can be tough because there is a need to make profit while ensuring that all shareholders, management, and employees will be satisfied with the business. The role for
Words: 1042 - Pages: 5
Chapter 1 Finance is the study how people allocate scarce resources over time. Why should finance be studied? • To manage your personal resources • To deal with world business • To pursue interesting and rewarding opportunities • To make informed public choices as a citizen • To expand your mind Discuss and provide examples of the four basic financial decisions every household faces • Consumption and saving decisions: How much of their current wealth should the y spend on consumption
Words: 1177 - Pages: 5
World Forums Everett Cordy, everett.cordy@waldenu.edu Student ID#: A00186883 MGMT 8010 – Management in Human and Societal Development Winter Quarter, 2011 Professor: Dr. Kenneth Sherman Walden University January 11, 2012 Abstract This paper critically examines contrasting worldviews on corporate and civil society. To facilitate this examination, a comparison of the values and purposes of the World Social Forum is contrasted
Words: 748 - Pages: 3
business to succeed. Without having good people working in a corporation the company cannot do many things. Good working people means the company will do well in anything they are doing. The second challenge that my organization is facing right now is equalizing technological knowledge among their teams. I think that every company should have their employees trained and knowing how to operate every new machinery that is being used in the corporation, this way people will be more valuable for their knowledge
Words: 275 - Pages: 2
Yen-Hui Chen Professor Steven J. Mandelkorn Accounting 757 05/20/2013 Section 351 In Section 351(a), it states that “no gain or loss shall be recognized if property is transferred to a corporation by one or more persons solely in exchange for stock in such corporation and immediately after the exchange such person or persons are in control.” If we want to make qualified and successful transactions under Section 351 in order to make tax free transaction as it will not recognized and gain or
Words: 1914 - Pages: 8
Company Profile Yuppie.co.in One Day One Deal Main company con 1. Business, Administrative & Contact Information a. Business name: Ocean Incorporation b. Business type: Sole proprieto d. E-mail: info@yuppie.co.in e. f. Postal Address: Same as Above g. Banking details: Bank: State Bank Of India Branch: Parivar Char Rasta 2. Introduction h. Company History Yuppie.co.in was founded in 2013 by Sagar
Words: 360 - Pages: 2
COMPANY LAW CHAPTER I Introduction 1.1. Background of Company Law The 'Company Law' in Bangladesh is provided and governed by The Companies Act 1994. Before independence of Pakistan, the Indian Companies Act 1913 was the main instrument in this sub continent regarding company business, which passed through major amendments, once in 1936 and then in 1938. Since independence of Pakistan in 1947 changes have been introduced into the Act from time to time not major in nature. After independence
Words: 20124 - Pages: 81
