anything illegal without other partners knowledge. Partners have equal amount of voting power regardless of who contributes the most capital to the business. Limited Liability Company is another business one can establish. An LLC is similar to a corporation and a partnership. Members and owners of an LLC are protected from liability from debts and liabilities from the company. For personally and directly injuring someone, or
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Tesco 1. Describe what is meant by motivation. What types of non-financial reward might a company use to motivate employees? Motivation may stem from personal interest such as keeping safe or from external factors such as praise and reward. Non-financial rewards: * appreciation of hard work * a sense of achievement * responsibility and empowerment * opportunity for advancement * a sense of challenge and enjoyment. 2. Describe the effects of an unmotivated workforce
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Accountants 150 Brant Street Burlington, Ontario L1L 1L5 February 18, 2008 Dr. Beatrice Simcoe, President Brant Animal Hospital Professional Corporation 100 Brant Street, Burlington, Ontario L1L 1L1 Dear Dr. Simcoe: We have been engaged to audit the financial statements of Brant Animal Hospital Professional Corporation (“the Company”) for the year ended December 31, 2007. Canadian Generally Accepted Auditing Standards (GAAS) requires us to communicate at least annually
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Introduction: This essay is consisted of Part A and Part B, includes three tasks in total. In Part A it will discuss the feature of a fiduciary relationship and disclosure some duties owned by company directors, such as the duty to act in good faith in the best interests of the company, the duty to avoid conflicts of the interest, the consequences of breaching a duty by directors and some defences for the company’s director. After that, in Part B the article will talk about some issues arise from
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After reviewing the company’s background we offer the following recommendations to help improve their position in the market with the aspiration of growth & financial prosperity. The first thing which must be done is to define the scope of the services offered. To effectively target the right customers Cal Inc. identify what services are being sold. To help alleviate some of the financial stress of the business Cal Inc. should consult with the Small Business Administration regarding loans and/or
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the best choice of business entity for a new product that has excellent market potential. You will examine the pros and cons of each type of business structure. Business structures such as a Sole Proprietorship, Partnership, and Corporation, and ultimately why a corporation was the best business structure for this particular product. A woman has an excellent idea for a new appliance that she feels will benefit the needs of everyday consumers. However, she has a few decisions that stand in the way
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the LLC The Executive Angel’s owners had a better outcome financially at tax time. After years of growth and our profits exceeded 2 million dollars per a year we decided to sell off small shares of our company to investors and become a major corporation. Due to selling company shares, The Executive Angel now became a Joint-Stock
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Introduction: GDR or Georginelli Dental Research shifted from an active business corporation to one that has become excessively careful, as its elevated margin film transactions have eroded. Even though the phases-and-gates procedure is in place at GDR delivers leadership to projects, the motivation and spirit that directed the corporation to former triumph has been removed from the association. The case brings the story of two characters that are motivated to bring back that "can do" spirit as
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2) Four categories of business enterprises are as follows: • Partnership A partnership is an agreement between two or more people to finance and operate a business for profit. Partnerships are relatively easy to establish; however time should be invested in developing the partnership agreement. A partnership agreement is a legal agreement between partners in a partnership which sets out the terms and conditions of the relationship between the partners, including: Percentages of ownership
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for listed firms to have independent audit committees. When costly internal regulations that are not necessary for honest corporations are imposed on all corporations that are competitors, honest corporations do not gain a competitive advantage over those who have violated the law. In some situations these honest corporations could bear higher costs than do rogue corporations. Who then benefits from such rules? First, standardized rules make it easier for the regulators to supervise the corporate
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