South Florida that are densely populated by retirees and recent immigrants from the Caribbean basin. Prefab acquires land, builds streets and other land improvements, builds modular homes on the land and then sells the entire development to limited partnerships that are set up as tax shelters. Prefab finances most of its construction costs through the Sun Atlantic Bank in Fort Lauderdale. Prefab's condensed financial statements for 2013 (audited) and 2014 (un-audited) are presented below. 2013
Words: 867 - Pages: 4
of Business Kimberly Smith FIN231_1 February 14, 2016 Instructor McAndrew Forms of Business There are at least five different forms of business. They are proprietorship, partnership, corporation, limited liability company, and cooperative. The three major forms of business are proprietorship, partnership, and corporation. With proprietorship (also known as sole proprietorship), the business is only owned by one person. This person assumes all of the responsibility for the business
Words: 987 - Pages: 4
February 26, 2012 . A partnership is when two or more people come together to form a business. There are at least three different types of partnership: First is the general partnership, where all owners have the same stake in the business’s daily functions and financial liabilities; second is the limited partnership. The limited partnership defines a partnership where at least one partner acts as the general partner, and at least one is a limited partner. All partnerships require at least one
Words: 1846 - Pages: 8
frequently the most obvious choice is to form a partnership. But, like everything, partnerships come with their own pros and cons. In fact, forming a partnership should be based on what is best for the company, not simply because there is more than one person involved in the business. There are three types of partnerships - a general partnership, limited partnership, and limited liability partnership. General Partnership General partnerships consist of two or more partners who are both responsible
Words: 1253 - Pages: 6
ARTICLES OF PARTNERSHIP OF LEGACY ASSOCIATES KNOW ALL MEN BY THESE PRESENTS: That, we the undersigned, all of legal age and residents of the Republic of the Philippines have agreed to amend a general partnership under the terms and conditions herein after set forth and subject to the provisions of existing laws of the Republic of the Philippines. RECITAL The parties hereto wish: (a) to enter together into the business of purchasing, acquiring, operating, leasing, owning and
Words: 6100 - Pages: 25
certificate of authority from the second state 3. Limited partners can lose their limited liability by a. investing too much in the partnership b. withdrawing from a limited partnership contrary to provisions in the limited partnership agreement c. x actively managing the business of the limited partnership d. breaching the fiduciary duty to the limited partnership 4. The major disadvantage of a sole proprietorship is a. the difficulty and cost of formation b. x the unlimited liability
Words: 2358 - Pages: 10
Name Instructor Houston English 205 September 2, 2013 Gay in America In today’s society Gay men and women have to fight for everything, including the right to marry and have a baby. Gays face many challenges which include a job, a loved one, a family; the right to life, liberty and justice, all these rights are given to all but Gay people. I ask you; is this fair; are Gays not people to? Sometimes even before a gay person comes out they get teased, ridiculed, punished, assaulted and
Words: 2069 - Pages: 9
proprietorship. C. general partnership. D. limited partnership. E. limited liability company. 5. A business formed by two or more individuals who each have unlimited liability for all of the firm's business debts is called a: A. corporation. B. sole proprietorship. C. general partnership. D. limited partnership. E. limited liability company. 6. A business partner whose potential financial loss in the partnership will not exceed his or her investment in that partnership is called a:
Words: 9492 - Pages: 38
Business Environment 2012 Business Environment 2012 ICBT City Campus Insaf Ismail Batch 40 ICBT City Campus ICBT City Campus Insaf Ismail Batch 40 ICBT City Campus Acknowledgement I would like to thank Mr. Anurugdha yapa for imparting great knowledge, assisting & believing in us & giving us a hand on experience & opportunity in making this assignment a success. Your guidance gave us the strength to get through many a trial in completing this assignment successfully. My
Words: 6085 - Pages: 25
The Consumers’ Right Protection Act, 2009 (Act No. 26 of 2009) 6th April, 2009 An Act to make provisions for the protection of the rights of the consumers, prevention of anti-consumer right practices and for matters connected therewith. Whereas it is expedient and necessary to make provisions for the protection of the rights of the consumers, prevention of anti-consumer right practices and for matters connected therewith; It is hereby enacted as follows
Words: 9206 - Pages: 37
