BE USED IN THIS PAPER. The number of marks is given in brackets [ ] at the end of each question or part question. The total of the marks for this paper is 80. This document consists of 20 printed pages. DC (SLM/SW) 64206/2 © UCLES 2013 [Turn over 2 ELECTRONIC CALCULATORS MUST NOT BE USED IN THIS PAPER. 1 Evaluate (a) 4 2 - ‚ 7 5 For Examiner’s Use (b) 5 2 ’ � 8 3 Answer �������������������������������������������� [1] 2 Answer ��������������������������������������������
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Advantages of Sole Proprietor Form the advantages of forming a sole proprietorship include: Control As the sole owner of the business‚ you have complete control over all the operations‚ and you get to make all the decisions. You don’t have a board of directors‚ shareholders‚ or other owners to answer to. Tax Preparation and Filing Sole proprietorship income taxes are easy to file‚ using Schedule C and adding the income/loss from the business to your other income on your personal tax return.
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| Caselet: Mr. RajKumar wishes to convert his business entity from Sole proprietorship to a Private limited company. I have informed him the advantages and disadvantages of a private limited company. Can you also do the same? Inspite of knowing the disadvantages‚ He still insist for help and guidance in forming a private limited. | | | Firstly Mr. Rajkumar must understand that a limited company is a type of company which when set-up allows an entrepreneur to keep their own assets and
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Advantages and Disadvantages of Private Prisons and Jails Learning Team A CJA/303 June 9‚ 2010 James Wilson Advantages and Disadvantages of Private Prisons and Jails In the United States‚ prison overcrowding and budget cuts within the criminal justice system have lead to an increase in the need and the development of private prisons and jails. According to Wikimedia Foundation‚ Inc. (2010)‚ "A private prison is a place in which individuals are physically confined by a third party that is
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MUHAMMAD ALI Sole traders: According to Peterson and Plowman : “ As sole proprietorship is a business unit whose ownership and management are vested in one person. This individual assumes all risk of loss and failure of the enterprise and receives all profits from its successful operation”. A sole trader describes any business that is owned and controlled by one person‚ although they may employ workers‚ e.g. a newsagent’s shop. Individuals who provide a specialist service like hairdressers‚
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Limited Companies In order to set up a limited company‚ you must firstly set up the company with Companies House and let HM Revenue and Customs (HMRC) know when the company starts its business. Every financial year the company must: Put together statutory accounts Send Companies Home an annual return Send HMRC a tax return The company must register for VAT if you expect its takings to be more than £81‚000 per year. If you’re a director of a company you must: Fill in a Self-Assessment tax return
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The first private prison opened‚ well closed rather‚ its doors in 1984. This initiated a rapid expansion of private correctional facilities within the state and federal correctional industries. At the forefront of the private corrections industry are the Correctional Corporation of America and The GEO Group‚ Inc. These two privately contracted companies have become billion dollar corporations. Since the influx of these types of correctional institutions‚ there have been many studies and statistics
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Q1: What are advantages and disadvantages to Jenifer’s company of routinely administering honesty tests of all it employees? There are positive advantages and some disadvantages of regularly conducting honesty test of workers. Honesty test helps to spot culprits in the organization. These types of people are indulged in dishonorable and dishonest actions. Through this identification the personal managers can easily get rid of these type of employees. Polygraph testing raises a large number of
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The Advantages And Disadvantages of Multinational Companies In a modern society‚ many multinational companies have been founded. They are called multinational corporations because these corporations operate in more than one country at a time. For example‚ McDonalds‚ Pepsi‚ KFC‚ Nike. I will discuss the advantages and disadvantages of these corporations. For the advantages‚ Firstly‚ multinational products and services provide the best possible standards. Because in a foreign country
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There are distinct advantages and disadvantages of each of these structures. When looking at forming any of these you must first look at who will be forming these. 1. Sole proprietorships; Individuals and small companies are better suited for sole proprietorships. There are several reasons why this is. a. Few business requirements b. Little or no cost to form. c. Tax advantages‚ can be claimed on your 1040 d. Single decision maker There are however some disadvantages of this structure such
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