Running Head: LIMITED LIABILITY CORPORATION AND PARTNERSHIP PAPER Limited Liability Corporation and Partnership Paper A.J. Smith FIN-419/Finance for Decision Making December 9, 2013 Limited Liability Corporations and Partnerships Introduction Legal forms of business organization are important aspects of financial management. Ownership structure, articles of organization, legal rights and liabilities of members, and other features of a business organization ultimately affect financial
Words: 1098 - Pages: 5
BUSINESS ORGANISATION’S AIMS & OBJECTIVES (2) |Lecturer: Ms. Cassie @ Chitara Ramasamy | | |Session: August 2012 | | |Lesson Outline: | | |Different types of business
Words: 3189 - Pages: 13
preferred choice and liability and one or two plus people must research and justify why they prefer the corresponding business form. Sole Proprietorship “The sole proprietor is an unincorporated business with one owner who pays personal income tax on profits from the business. With little government regulation, they are the simplest business to set up or take apart, making them popular among individual self- contractors or business owners (www.investopedia.com).” A Sole Proprietorship is the simplest
Words: 1330 - Pages: 6
CHAPTER 1 An Overview of Financial Management SOURCE: Courtesy BEN & JERRY’S HOMEMADE, INC. www.benjerry.com STRIKING THE RIGHT BALANCE $ BEN & JERRY'S F or many companies, the decision would have been an easy “yes.” However, Ben & Jerry’s Homemade Inc. has always taken pride in doing things make money. For example, in a recent article in Fortune magazine, Alex Taylor III commented that, “Operating a business is tough enough. Once you add social goals to the demands of serving
Words: 16738 - Pages: 67
University of Phoenix Material Sample Business Forms Worksheet There are seven forms of business: sole proprietorship, partnership, limited liability partnership, limited liability company (including the single member LLC), S Corporation, Franchise, and Corporation. 1. Select one of the forms of business 2. Research and provide three advantages and three disadvantages for this business form. 3. Provide a 100- to 200-word summary in which you provide an example business for each form. Discuss
Words: 363 - Pages: 2
I. Type of business according to ownership in the field of business ownership, we chose the partnership, two or more people share ownership of a single business. Contracts got binded between two partners to place their capital, labor, and skills with the understanding that there will be a sharing of the profits and losses among partners. Like proprietorships, the law does not distinguish between the business and its owners. The partners should have a legal agreement that sets forth how decisions
Words: 596 - Pages: 3
670 Legal Environment Andrew Stave Monday April 15, 2013 In this paper I will discuss business structure and organization and how liability differs between each organizational form. My business Tinker’s Home Security Service is being sued by one of my clients for breach of contract. The lawsuit derives from the fact that one of our clients’ property was burglarized and they are stating
Words: 1006 - Pages: 5
University of Phoenix Material Sabrina Morton Business Forms Worksheet There are seven forms of business: sole proprietorship, partnership, limited liability partnership, limited liability company (including the single member LLC), S Corporation, Franchise, and Corporation. 1. Research and provide three advantages and three disadvantages for each business form. 2. Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is
Words: 1436 - Pages: 6
Some of them are more common than others. Sole proprietorship, partnership, limited liability partnership, limited liability company, S corporation, franchise, and corporate form are the seven forms of business that we are going to discuss in this paper. We are going to develop scenarios in which each of these forms of business would be the preferred form and justify why the corresponding business form would be most preferable. A sole proprietorship is the simplest form of business (Cheeseman
Words: 329 - Pages: 2
business entrepreneurs. There are Sole proprietorship, general partnerships (gp), limited partnerships (lp), limited liability companies (llc), s corporations and c corporations. Each one of them serves a purpose depending on your needs and the needs of your business. A Sole proprietorship is easy to start and has no costs to begin as this like some others; also there are no annual reports required or operating documents. On the other side owner don’t have any liability protection, it means you are
Words: 437 - Pages: 2
