310.1.2: Organizational Forms Task A SOLE PROPRIETORSHIP: This is the most common form of business as it is owned by one person‚ so there is no distinction between the business and the owner. Liability – Because there is no distinction between the business and the owner‚ all liability falls on the owner/sole proprietor. If the business fails‚ both personal and business worth and assets are at risk as they are the same. Income Taxes – Filing for income taxes are an advantage as the owner
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four basic forms of a business are sole proprietorships‚ partnerships‚ c corporations and s corporations. Each of these forms has distinct advantages and disadvantages in relation to taxes‚ legal implications‚ accounting requirements and meeting the business’ objectives. Please refer to the illustration of these areas in the table below: ADVANTAGES DISADVANTAGES FINANCIAL FORMS SOLE PROPRIETORSHIP (Investor Guide. com‚ n.d.) and (All Business‚ n.d.) A sole proprietor has complete control
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DIFFERENT FORMS OF ORGANISATION SOLE TRADING CONCERN ▪ Meaning ▪ Features ▪ Advantages ▪ Disadvantages ▪ Suitability PARTNERSHIP FIRM ▪ Meaning ▪ Features ▪ Merits ▪ Demerits ▪ Kind of partnership firm ▪ Types of partners ▪ Partnership Deed JOINT HINDU FAMILY BUSINESS ▪ Meaning ▪ Features ▪ Advantages ▪ Disadvantages JOINT STOCK COMPANY ▪ Meaning ▪ Features ▪ Advantages ▪ Disadvantages ▪ Management ▪ Forms
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1 SOLE PROPRIETORSHIP: The owner and the business are considered one. The owner takes all the risk and receives all the profits. It is easy and inexpensive to start up a sole proprietorship however a sole owner has trouble raising capital which could limit growth. • LIABILITY –If the business fails the owner is financially responsible and my lose everything. • INCOME TAXES – The proprietor and the business are taxed together. • LONGEVITY/CONTINUITY – The business dies with the sole proprietor
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References: Sole‚ K. (2011) Making Connections: Understanding Interpersonal Communication. San Diego‚ CA Bridgepoint Education‚ Inc. Retrieved from http://content.ashford.edu/books/AUCOM200.11.1 McNaughton‚ D.‚ Hamlin‚ D.‚ McCarthy‚ J.‚ Darlene Head-Reeves‚ & Schreiner
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forming a business. The choices are sole proprietorship‚ partnership‚ limited liability partnership‚ a limited liability company‚ a S corporation‚ a franchise‚ and a corporate form. Development of scenarios portraying each of these forms of business will aid the entrepreneur with deciding which form will be the best choice for the business. Sole Proprietorship “Sole proprietorship is the simplest form of business organization. The owner of the business the sole proprietor is the business” (Cheeseman
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CBI MARKET SURVEY: THE FOOTWEAR MARKET IN THE EU CBI MARKET SURVEY THE FOOTWEAR MARKET IN THE EU Publication date: May 2010 CONTENTS REPORT SUMMARY INTRODUCTION 1 2 3 4 5 6 7 CONSUMPTION PRODUCTION TRADE CHANNELS FOR MARKET ENTRY TRADE: IMPORTS AND EXPORTS PRICE DEVELOPMENTS MARKET ACCESS REQUIREMENTS OPPORTUNITY OR THREAT? 2 5 6 18 24 30 37 42 46 APPENDICES A B C D E PRODUCT CHARACTERISTICS INTRODUCTION TO THE EU MARKET LIST OF DEVELOPING COUNTRIES DETAILED STATISTICAL TABLES FUTURE FOOTWEAR
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Justin Bugbee period 1 12/6/12 Job shadow project To start with I went to Harllee Middle School to sit upon a science teacher. His name is David Soles he is also the athletics director at Harllee. Some of the topics I will be going over are his job duties‚ working conditions‚ the required skills‚ education and training‚ and the salary and benefits. To begin‚ the job duties are pretty important. In class he has to be organized and have his papers in order. He also has to set up some sort of curriculum
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group from Leicester to Calais to coincide with the Paris exhibition. • Thomas Cook was nationalised shortly after World War Two when it became part of the state-owned British Railways. It was privatised in the 1970’s with Midland Bank becoming its sole owner in 1977. It was then sold by Midland in 1992 to a German bank and charter airline. • Today the company is 50:50 owned by German retail group KarstadtQuelle and the Lufthansa airline. KarstadtQuelle is in the process of buying out Lufthansa’s
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Coml 204 3 broad structures Trade on your own (sole trader) Partnership (there are at least 2 people involved Limited liability company (many parties involved and have equal rights of management What are some of the basic issues that you will be concerned when setting up on enterprise? Step 1: need to decide the business structure Step 2: Finance‚ decide how to finance the business Company (demand securities‚ mortgage) Sole trader (individual) Partnership (all the partners involved) Limited
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