followed by unrealized receivables and inventory and‚ last‚ capital and other assets. ____ 9. For purposes of determining gain on a current distribution to a partner‚ a distribution of cash includes relief of a partner’s share of partnership liabilities and certain distributions of marketable securities. ____ 10. The LMO Partnership distributed $30‚000 cash to Emma in a proportionate‚ nonliquidating distribution. Emma’s basis in her partnership interest was $25‚000 immediately before the distribution
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are taxed as flow-through entities? The two main business entities that are taxed as flow-through entities are partnerships and S corporations. Partnerships are taxed under Sub-chapter K and consist of general partnerships‚ limited partnerships‚ and limited liability companies (LLC). S corporations are taxed under Sub-chapter S. Both these types of business entities are treated as flow-through entities and are taxed accordingly. 5. What is the rationale for requiring partners to defer most gains
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public limited company as there business is to make a profit. Tesco’s industrial sector is tertiary as it sells on their products to their clients and they provide a service. Tesco has a public limited company ownership‚ as it’s a large privately run business. The key features of having a public limited company ownership is that they are able to trade on the stock market. Tesco’s type of liability is unlimited as businesses in the public limited company ownerships usually have unlimited liability. The
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__________________________________________04 1 | Page Q1.How many types of customers and elaborate it? There are different types of customer which are given as below: • General • Joint account • Minor • Parda nasheen • Illiterate persons • Trustees • Joint stock companies • insane • Minor Minor is a person who is less than 18 years and has not completed 18 years. In that case a guardian will be appointed for the minor by a court or it can be the relative of the minor. After appointing a guardian the age of minor
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fundraising trough events and help the community grow Return at least 10% of the investment in the first year. Benefit the customers by providing them with professional training and innovative products Grow the company in the first 5 years and start franchising Vision statement: “ To make the company the best on the market so that people all over the world would come to try it”. To recruit up to 100 trainers in the next 9 months Return all investment in the next 3
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Task 1 Describe the type of business‚ purpose and ownership of 2 contrasting types of businesses. Sole Trader A sole trader is a business owned by 1 person. It does not have limited liability meaning that if it fails and creates debts the owner is personally responsible for this. Sole trader’s usually have to work long hours and learn about all the aspects of business as many start up businesses cannot afford to hire people to take on other tasks. The owner is responsible for everything that goes
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Unit 1 The Business Environment Section 1 P1: Describe the type of business‚ purpose and ownership of two contrasting businesses Revlon Colorstay Foundation The product I have chosen is Revlon Colorstay Foundation. Foundation is a skin colored cosmetic to cover imperfections and create an even complexion. There are many different types of foundation such as liquid‚ powder‚ tinted moisturizer
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take more money they offer shares to the general public and has limited liability. | 10millionLarge | European | Business 2:Bath store | To make profit and provide nice‚ beautifully hygienic bathrooms | To grow their business operation ‚ to open three more units within a five year periodIncreasing revenue while limiting expenses‚ increasing annual sales by 10 percent | It has more than 1 share holder it’s a private limited company because it’s easy to transfer ownership of the business by selling
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and have over 700 UK stores. JKNE (Jonny Kennedy North East) is a charity based in the North East of England‚ created to follow Jonny’s wishes by helping other sufferers of Epidermoysis Bullosa. M&S is a PLC (Public Limited Company) where anyone can buy a share and the company doesn’t have a say in who gets the shares. Whereas JKNE is Charity where people volunteer and don’t get paid for their work. M&S strive to make a profit and JKNE want money but they don’t need profit as their stock is
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McBride’s locker located at the companies on site fitness center is permissible. First and foremost‚ the instigation of the search is being conducted on reasonable suspicion. In Alabama v. White the court stated that “reasonable suspicion can arise from information that is less reliable than that required to show probable cause.” (Rutledge‚ 2011) This reasonable suspicion is based on the various comments Mr. McBride made during his exit interview. Secondly‚ Greenwood Company has a legitimate business interest
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