I am aware that you are wanting to go into business because of your love of natural ice cream. I would like to discuss with you the various types of business entities that exist and the pros and cons of each. Specifically‚ I will discuss: Limited Liability Company and C Corporations. I have not included the general partnerships‚ limited partnerships‚ or S corporations as one of your choices for various reasons. With the general partnerships‚ all owners are jointly and personally liable for any debts
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SOURCES 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Publication Publication Internet Source Publication Internet Source Publication Internet Source Internet Source Publication Publication Internet Source Publication Publication Publication 2% Managerial Finance‚ Volume 34‚ Issue 12 (2008-10-26) 1% www.eurojournals.com 1% The Journal of Risk Finance‚ Volume 10‚ Issue 5 (2009-11-16) 1% www.vdqs.net 1% International Journal of Managerial Finance‚ Volume 2‚ Issue 1 (2006-09-19)
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Ahmad is in business selling microcomputers. Following a major refurbishment of his shop premises he publishes the re-opening of his shop with a large newspaper advertisement on 30 august. Formalities are a general rule contracts do not need to comply with any sort of formalities. Thus‚ while it is more difficult to prove contracts that are entirely or partly oral‚ this is a matter of evidence and procedure only and is not relevant to the validity of a contract. A contract of sale may be made in
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Business Law Learning Outcome 1 10/10/2011 HND Accounting Niki Bain There are two institutions in the UK that have the power to make statutory legislation in Scotland. The first of these institutions is Westminster (London) where elected individuals serve in the House of Commons. These members are known as MP’s (Members of Parliament). Parliament is responsible for passing new laws (legislation). In the late nineties the House of Commons allowed the passing of devolved powers to the
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Elsey GPS-1010 SEC017 Nov/12/2015 Failing Forward 1. Describe Maxwell’s concept of Failing Forward. What is the difference between “failing backwards” and “failing forward”? Give an example in your own life where you demonstrated both concepts. John Maxwell describes failing forward as being willing to get back up after facing obstacles. It is the ability to learn from one’s mistakes and to progress forward in the correct direction. In simpler words‚ failing forward is learning to view failure
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Chapter 8 Q&A 3. For a crime to be committed‚ the prosecutor must be able to prove a criminal intent and an overt act to carry out that intent. Jack and Mary agreed to rob a series of banks. Prior to beginning their bank robbery spree‚ they were arrested and charged with criminal conspiracy. What act did Jack and Mary do that justifies a finding that they committed the crime? Explain. As a general rule‚ crime involves combination of act and criminal intent. A crime is committed when it is
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Question 1 The issue of this question is whether Scott and Kyle can bring legal action against Wayne for what they feel is a breach of contract. Under the law governing offer and acceptance‚ a valid offer has been made through an advertisement. In order for an offer to be accepted‚ the party must entirely accept the offer. The rules governing acceptance has to be positive not passive. Silence does not forms acceptance. The general rule of acceptance is that the acceptance must be received by
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A failing education system The drastically increasing cost of college is effecting many students all across the United States. Whether the student is coming from a low income home‚ or a high middle class family‚ it is starting to impact students all over the country regardless of back round or income. Although there are many opportunities for scholarships‚ it has become increasingly difficult to get a full ride‚ or even a partial scholarship. Financial aid is becoming harder to access‚ and loan
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likelihoods of product default. The seller sometimes may claim these warranties impliedly or expressly. They also may disclaim warranties or restrict buyers to a few requirements to qualify for a warranty. A warranty is a promise‚ arising by operation of law‚ that something that is sold will be merchantable and fit for the purpose for which it is sold. Express warranties: need to be communicated by words to the consumer by the seller. The seller can communicate the agreement in a written contract or
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543 Chapter 1 Introduction to Federal Taxation and Understanding the Federal Tax Law TRUE-FALSE QUESTIONS—CHAPTER 1 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. The majority of dollars collected by the U.S. government come by way of corporate taxation. Prior to the Sixteenth Amendment direct taxes were illegal. All U.S. taxes are based on an individual’s income. Customs taxes are imposed on exports to
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