An LLC is a relatively new form of business organization whose goal is to operate and be taxed like a partnership but retain limited liability for owners‚ thus a combination of partnership and corporation. If changing the company organization from a sole proprietorship to an LLC‚ the advantages are as follows. Since an LLC is functioned as a partnership‚ the funds raised from other partners will enlarge the scale of the company and relieve the cash flow and capacity problems and enrich its asset‚
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relationships can sometimes be easy but problems can arise along the way. There are three common communication problems in relationships that can stem from one or both parties. Those areas are silence or refusing to communicate‚ placating‚ and playing games (Sole‚ 2011). These problems can damage a relationship if they are not identified and dealt with accordingly. There is an old saying that “Silence is golden.” In relationships silence is not golden. One marriage therapist reports that people most commonly
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LIT1 – Task 1 Part A SOLE PROPRIETORSHIP: A “for profit business” owned and operated by an individual. Owning a sole proprietorship allows an individual to run a business any way they see fit with few state/federal regulations and limited legal formalities. The owner of a sole proprietorship assumes considerable risks by without liability protection and therefore is held personally liable for any judgments against the company and is susceptible to loss of business assets‚ personal property and
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ownership. Once those items have ben determined‚ the overall business structure can be selected to provide the most benefit. There are three basic business structures; sole proprietorship‚ partnership‚ and corporations. (Parrino‚ Kidwell‚ & Bates‚ 2012) Each of these structures is advantageous in its own right. Sole Proprietorship Sole Proprietorships make up approximately 75% of all businesses in the United States‚ which can be attributed to many of their advantages. (Parrino‚ Kidwell‚ & Bates‚ 2012)
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practical considerations. To understand more about the different forms of business‚ it is important to consider the right structure for the business (Legal Forms‚ 2006). Sole Proprietorship A sole proprietorship simply means a business with one owner. With many forms of organizations out there‚ this is the most common. In a sole proprietorship‚ a business organization is not separate from its owner‚ just under a business name in which the owner represents him or herself to the public (Lee‚ 2011)
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Strategic Plan is a plan within an organisation consisting of the organisation’s key goals and objectives. These goals and objectives are aimed to be achieved by a particular point in time‚ usually in a 3 to 5 year time period. The Strategic Plan’s sole purpose is to emphasise these factors to ensure that all members within the organisation understand where the company is heading and how it intends to reach these goals and objectives. The Strategic Plan should include the overall Mission‚ Vision
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communication problems in relationships stem from the following behaviors of one or both parties: (1) silence or refusing to communicate; (2) placating‚ which means to soothe or calm someone by being nice or by giving in to demands; and (3) playing games. (Sole‚ K.(2011)9.1‚ pp216). It can be easy to assume that our partner is going to know how we are going to react within a given situation. Arguments and misunderstandings do not need to happen and by being aware that there is a problem can help you identify
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steps: preparing the sole‚ knitting the surrounding‚ and knitting the outer cover. First of all‚ begin with preparing the sole of the shoes. Bring a big piece of white material and dye it with blue or blue and red color. After the material is dried‚ cut them it to small pieces . Gather all the pieces and pound them until you make them one piece. Then Use bulls’ skin to all the pieces together‚ so it will be tight. Cut the product as a sole of a shoe. After finishing the sole‚ move to knit the
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There are three main types of business‚ namely‚ Sole Proprietorship‚ Partnership and Corporations. Partnership allows for two (2) or more persons (up to 20) to operate and share ownership of a single business. This means that there is shared management‚ shared profit or loss‚ as well as shared risk; therefore‚ there are fewer consequences with regards to ownership‚ responsibility and liability. Sole Proprietorship‚ on the other hand‚ is a type of business entity that is owned and operated by one
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successful. There are many advantages and disadvantages when owning your own business. When you own your own business‚ it’s known as a sole proprietorship. With any type of business‚ there will always be advantages and disadvantages. Five advantages for owning your own business are: 1) The owner receives all profits‚ meaning that all earnings go to the sole proprietor‚ or the owner‚ and isn’t shared with anyone else. The profit is not split among partners‚ or split among a corporation. So when
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