Introduction Companies influenced by social sustainability have thrived due to the reoccurring needs of people‚ specifically their health. It has been made aware that a large percentage of the United Arab Emirates smoke Shisha‚ and although many believe it to be harmless because of their sweet flavours‚ it is a great deal worse for you than smoking cigarettes. In an attempt to lower the amount of Shisha- related illnesses and decrease the amount of carbon monoxide being released into the air
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committed by the company. This leads directly to the concept of limited liability. Since a company is a separate legal entity‚ it follows that its members will not be liable for its debts. As a distinct legal entity‚ a company’s assets belong to it and not its members; its liabilities belong to it and are not the responsibility of the members. In the event of the company becoming insolvent or bankrupt‚ a shareholder’s loss would only be limited to the amount of unpaid shares he has outstanding in the company
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Bus 210 Week 2 Checkpoint A friend of mine and I are going to try and open a business doing accounting and bookkeeping but are having a hard time choosing if the form of business organization we will operate as will be joint stock‚ limited liability‚ partnership‚ or a sole proprietorship. A joint-stock company is where business owners raise capital by issuing stock certificates of its ownership. This means selling stock to investors that guarantee them a certain percentage of the company’s profit
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Types of Company Companies by liability S. 14(2) Companies Act 1965 provides 4 types of companies by liability:a. A company limited by shares; └ S4 company formed on the principle of having the liability of its members limited by the memorandum to the amount (if any) unpaid on the shares respectively held by them └ Liability of a member of this company will depend on whether his shares are fully paid or not └ If holds fully paid shares‚ has no further liability to the company. (If the company
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JOAQUIM PIRES BUSINESS ORGANISATION AND PROCESSES ASSESSMENT 1 2006 Question 1. Section (A) In a Limited liability company‚ there must be at least two shareholders with no maximum upper limit who own the company. All limited companies must be registered with the Registrar of Companies to whom the companies must send their annual financial statements. A limited company is separated in law from its owners. Because it has its own legal entity‚ any disputes concerning the company‚ will
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Introduction to Business (Question for 1st semester midterm exam.) # What is business? Ans : An organization or economic system where goods and services are exchanged for one another or for money. Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit. Businesses can be privately owned‚ not-for-profit or state-owned. An example of a corporate business is Grameen Phone‚ while an Azad Products is a private
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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 liability company (can issue shares-
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(a) “Nemawashi” is an agricultural metaphor. The idea is that before a farmer plants a seed‚ he should prepare the roots and the soil‚ so that the seed has the best chance of survival. It is a political process by which an unofficial understanding is reached before a final decision is made on a particular matter. “Nemawashi” is Bottom-up style decision making (middle management has the greatest influence on decision making). The Japanese are primarily concerned with harmoniously working out problems
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inventor who is trying to start up their own business but does not have the financial stability nor the management skills to keep the business afloat. They also need to decide which type of ownership will best fit their business: Sole Proprietorship‚ Partnership or Corporation. Unit 1: Individual Project Becoming a successful inventor is no easy task. It takes hard work coming up with and designing the product one wishes to sell. Then there are the questions ‘Could this product be successful in a household
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Credit Control Contents Why should you have an effective credit control policy? What should your credit policy contain? How can you assess what a customer is worth? Why should your customer’s identity be important? Limited liability partnerships. Confusion over trading names Business Names Act 1985 How do you assess your customer’s credit risk? Why should data protection be important? Who is protected by the Data Protection Act? How does the Act apply? How should you get consent? Grey areas How
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