"Legal entities" Essays and Research Papers

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    Quiz’s for Intro to financial management Chapter 1 (Quiz 1) * Question 1 2 out of 2 points | | | A firm created as a separate and distinct legal entity that may be owned by one or more individuals or entities is called a:Answer | | | | | Correct Answer: |    corporation. | | | | | * Question 2 2 out of 2 points | | | Paul is the owner of Paul’s Cabinets‚ which is a sole proprietorship. The firm cannot pay its bills because a large customer defaulted on payment

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    Bussiness Ananlysis

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    worked for so many years to accumulate. By Incorporating Toy Builder he creates a liability shield or separation between his personal assets and the newly acquired Toy Builder Company. A Corporation is a separate legal entity that is recognized by the law as being an actual legal person with many of the same rights and responsibilities that a natural person possesses. It is because of this that Jose can create the corporation Toy Builder and be financially safe with his entire personal wealth

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    Groupon

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    Types of Business Business is any activity that seeks to provide goods and services to others while operating at a profit. Business is the solution of how to get money‚ although business can be very risky. Anyone in the world can open a business‚ but there are some steps before deciding how would they structure their business. They will need to know their options. There are many ways to organize a business; the five most common ways are sole proprietorship‚ partnership‚ limited partnership‚ Limited

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    Case Study-James Hardie

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    Piercing the corporate veil describes a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders or directors. Usually a corporation is treated as a separate legal person‚ which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed. Common law countries usually uphold this principle of separate personhood‚ but in exceptional situations may "pierce" or "lift" the corporate veil. A simple example would be

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    partnerships. • Corporation: A business corporation is a for-profit‚ limited liability entity that has a separate legal personality from its members. A corporation is owned by multiple shareholders and is overseen by a board of directors‚ which hires the business’s managerial staff. • Cooperative: Often referred to as a "co-op business" or "co-op"‚ a cooperative is a for-profit‚ limited liability entity that differs from a corporation in that it has members‚ as opposed to shareholders‚ who

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    organizations. The advantages of a sole proprietorship are that the only paperwork the sole proprietor needs to be concerned with‚ when forming the business‚ is state and local permits‚ licenses‚ and any special certificates that might be needed. No other legal actions need to be taken for a sole proprietorship to be established‚ saving time and money. The disadvantages of a sole proprietorship are that the individual owner is personally liable for the activity of the business. The personal assets of the

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    Business Form - Noncorporate Business Arrangements’. CRICOS Provider Code 00301J Learning outcomes After completing this topic you should be able to: • distinguish the various business organisations that are found in Australia; • understand the legal consequences of operating different kinds of business organisations; • understand the terminology used in relation to different business organisations; and • explain how different business organisations are created and operated. Types of business

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    HCS 567 Week 3

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    (Barringer & Ireland‚ 2010). The sole proprietorship is the low cost alternative in both start up and in maintaining costs. They usually only require a business permit in order to operate. However‚ the sole proprietorship opens the owner up to increase legal liabilities as the income is reported as personal income and thus usually encompasses the owner’s personal assets. Not only does this type of organization have limited resale value. The sole proprietorship is also noted to have significantly higher

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    E-commerce is one of the trending topics in today’s world‚ and in the Indian context‚ the e-commerce industry is led by the Indian giant – Flipkart. With brick and mortar stores and offline selling of products being touted as “old fashioned”‚ the online commercial players have been able to case a revolutionary change in the purchasing mindsets of customers by launching several innovative services such as same day delivery of products‚ attractive discounts and offers etc. The price benefit It is

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    Lit1 Task 310.1.2-01-06

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    Sole Proprietorship Sole proprietorship is the most common form of business in the United States. It is a relatively simple way for an individual to start a business since legal costs and business requirements are minimal‚ and the owner has complete control over the business. Though a sole proprietor is not responsible for any corporate tax payments‚ the owner is responsible for taxes incurred on the income generated from the business as part of his or her personal income tax payments‚ and personally

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