When opening a business there are many choices a person can take to protect assets and liabilities some advantages and disadvantages they are listed as followed: • A Solo proprietorship this is the most basic type of business to establish‚ and least amount of paper work involved to set up. o Advantages the sole proprietorship has complete control and decision-making over the business. The sole proprietorship can take discretion of the sale or transfer of his/her own terms. No corporate tax payment
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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 partnership is a company that is maintained by more than one individual
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Bullet/Listing approach (mentioned in the Task 1 Instructions) is below‚ which basically is you’ll describe each characteristic in usually about 1-2 sentences then move on. Example of how to apply this format: SOLE PROPRIETORSHIP: • LIABILITY – (1-2 Sentence Description) • INCOME TAXES – (1-2 Sentence Description) ------------------------------------------------- • LONGEVITY/CONTINUITY – (1-2 Sentence Description) -------------------------------------------------
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decisions-Evidence the company will repay the loan | Whitbread stresses: business performance‚ its share of the market and returns on investment. | | Competitors | -Records on competitor’s growth and profitability | Whitbread presents YouGov BrandIndex disclosing their and competitors place in customer brand awareness. | | Customers/ Suppliers | -Information to choose a service (customers)-Confirmation that the cash flow is sufficient to pay them on time (suppliers) | The company shows its transparency
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beneficial for the different companies‚ what laws and regulations play a part during set up and operation‚ and how risks should be analyzed. Readers will also see and understand how complex hiring decisions should be evaluated and what types of laws a hiring manager should be consider when hiring applicants. Business Entities‚ Laws‚ and Regulations Paper Businesses can originate or expand into several types of entities. General or limited Partnership‚ Sole Proprietorship
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authority. Private Limited Company Registering as a Private Limited Company is one of the preferred routes to become a Flipkart registered seller because it covers liability protection to promoters. Private Limited Company is an opted choice for partners and investors. In order to register as a Private Limited Company‚ the firm has to mandatorily provide the Memorandum of Association‚ the company PAN card and a copy of the certificate of incorporation of the Private Limited Company. A copy of the rental
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corporation’s unit of division Limited Liability: Feature that enables a corporation to raise more money than proprietorships and partnerships. One of the chief advantages of a corporation. Feature that sets the maximum amount of financial loss by a stockholder to the cost of the investment. Limited Liability Company: Entity where the business‚ and not the proprietor‚ is liable for the company’s debts. Type of entity that is designed to limit personal liability exposure. Cost Principle:
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FOR PARTNERSHIPS AND LIMITED LIABILITY COMPANIES DISCUSSION QUESTIONS 1. a. Proprietorship: Ease of formation and nontaxable entity. b. Partnership: Expanded owner expertise and capital‚ nontaxable entity‚ and moderate complexity of formation. c. Limited liability company: Limited liability to owners‚ expanded access to capital‚ nontaxable entity‚ and moderate complexity of formation. 2. The disadvantages of a partnership are that its life is limited‚ each partner has unlimited
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knowledge partner of private companies Belgium > Bulgaria > Czech Republic > Germany > Hungary > Luxembourg > Poland > Slovak Republic > Belgium Essentials of Doing Business in Belgium accountancy > audit > tax > legal > corporate finance > family office > environment > accountancy > audit > tax > legal VGD is a member of www.vgd.eu - 1 - VGD‚ knowledge partner of private companies TABLE OF CONTENTS Preface VGD as your knowledge partner for doing business in Belgium VGD as a member of
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Ms. Janice Contents No. | Title | Pages | 1 | Executive summary | 2 | 2 | Question 1 | Introduction | 3 | | | Sole Proprietorship | 4 | | | Partnership | 5 | | | Limited Liabilities Company | 6 | | | Accounting | 7 | | | Benefits of accounting | 7-9 | 3 | Question 2 | Differences of income statement and balance sheets | 10 | | | Tabulation of income statement and balance sheets | 11 | | | Use in decision making
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