1 Part A Sole Proprietorship A sole proprietorship is a form of business that is owned by a single individual. • Liability – Due to the lack of legal distinction between the owner and the business‚ the owner is fully responsible and liable for all debts that the business incurs in the same manner that an individual is fully responsible and liable for all debts that they incur. There is no legal distinction between the assets of the owner of the sole proprietorship and the business; this
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History of Iran timeline‚ Hakhamaneshian History Of Achaemenidae First Era of Persia Introduction Persia are also of Aryan race people whose time of migration to Iran is not known. According to statements of Assyrian kings the Persia like the Medians have been under ruling of assyria for a long time as well. One of Assyrian kings‚ ruling during the 9th century (B.C.) boasted that he had made obedient about 27 Persia kings‚ and it is well-known that at the era of Sar Gon Shalm Nasar‚ the
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look at the legal and regulatory forces of a sole proprietorship and social external trends to consider. The internal forces and trends that will be analysis are strategy‚ structures‚ goals‚ culture‚ and leadership. Legal and regulatoryThis business is going to have a sole proprietorship which means that the candy shop will be owned by one individual. This will leave the owner responsible for all the legal and financial liabilities of the business. Sole Proprietorships are probably the simplest and
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BUSINESS OWNERSHIP Compare forms of business ownership. Three basic forms of business ownership Sole proprietorship Partnership Corporation Sole proprietorship A business owned and operated by one
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Part A SOLE PROPRIETORSHIP: LIABILITY – Sole Proprietorship caries a large amount of liability because your personal credit can be affected if business fails. INCOME TAXES – As a sole proprietorship you only file one income tax for yourself and your business combined. LONGEVITY/CONTINUITY – A Sole proprietorship can grow as fast or as slow as the owner chooses. CONTROL – Sole proprietor has complete control over every aspect of the business. The sole proprietorship can grow at fast or
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business‚ an individual has the opportunity of starting a sole proprietorship‚ partnership‚ corporation‚ or LLC (Limited Liability Company). A sole proprietorship is a company that is run by a sole owner. The sole proprietor is the sole possessor of the business and is the only individual who manages the company. The sole proprietor is in authority of giving all taxes for the incomes because the sole proprietor makes all the profits. The sole owner is also responsible for all debts. A
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more than one member + Sole member limited company + Shareholding company + Partnership + Sole proprietorship + State – owned enterprise + Cooperative + Foreign invested company _ Based on liability + Unlimited liability companies ( Sole proprietorship and Partnership ) + Limited companies: limited liability‚ shareholding companies‚ state-owned enterprise‚ cooperatives‚ joint-rentures and percent foreign invested companies _ Based on legal person status: + Sole proprietorship does not
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P. BSAc-I‚ Mgt 101-A November 24‚ 2014 Sole Proprietorship A Sole Proprietorship is a business with one owner who operates the business on his or her own or employ employees. It is the simplest and the most numerous form of business organization in the United States‚ however it is dangerous as the sole proprietor has total and unlimited liability. Self contractor is one example of a sole proprietorship. The advantage of organizing your business as a sole proprietorship is that the process is simple
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of business) that exist. The types of business entities that exist are a sole proprietorship‚ partnership‚ corporation and a limited liability company. Depending on the type of entity that is established‚ will determine how an accountant will analyze the transactions of that business‚ and determine how they are inputted. The type of business can also have their own advantages and disadvantages finically on a business. A sole proprietorship is defined as a business with a single owner and is considered
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what type of business is being evaluated when determining what structure to use. This paper will cover the advantages and disadvantages within the four types of business structures; Limited Liability Corporations‚ Corporations‚ Partnerships‚ and Sole Proprietorships. Corporations A corporation is a standalone entity. There are two types of corporations‚ general or S Corp. Advantages of corporations consist of limited liability‚ capital through stock sales‚ attractive to employees‚ and receiving
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