legal forms of organization are identified as a sole proprietorship‚ general partnership‚ and a C corporation. Each holds unique benefits and challenges for the entrepreneur seeking to start a business. A sole proprietorship is one of the most basic forms of business and occurs when an individual has the title to all business assets‚ but is also personally liable for the rights of any creditors. In a general partnership‚ two or more partners have the ability to start quickly‚ without many legal requirements
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WANT: Want refers to those goods and services which are not essential for our living but we require them for a better living. They make our life easy and enjoyable. Example: 1. Mobile 2. Computer 3. Electricity 4. Television etc. Need is limited but want is unlimited. Need can’t be created; it already exists but want may be created. Definitions of Business • We all are involved in business in some-way or other. • Business is something with which we live. • Business needs people
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these structure holding companies usually have control and influence over subsidiaries. Limited liability on the other hand‚ is the logical consequence of the existence of a separate legal entity or generally‚ the concept simply means that since the company is different from the shareholders‚ the members are only liable for the amount unpaid or their shares and not for the debts of the company When limited liability is easily and cheaply available can be explained as removing unnecessary legal bars
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5. The management of a firm’s short-term assets and liabilities is called: A. B. C. D. E. working capital management. debt management. equity management. capital budgeting. capital structure. 6. A business owned by a single individual is called a: A. B. C. D. E. corporation. sole proprietorship. general partnership. limited partnership. limited liability company. 7. A business formed by two or more individuals who each have unlimited liability for business debts is called a: A. B. C. D. E. corporation
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ARTICLES OF PARTNERSHIP of ZY CREATIVE IDEAS‚ LTD.KNOW ALL MEN BY THESE PRESENTS: That we‚ the undersigned‚ all of legal age and residents of the Republic of thePhilippines have agreed to amend a limited partnership under the terms and conditionsherein set forth and subject to the provisions of existing laws of the Republic of thePhilippines. AND WE HEREBY CERTIFY:ARTICLE I. That the name of the partnership shall be:ZY Creative Ideas‚ Ltd. ARTICLE II. That the principal office of the Partnership
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SBA for approval. 4. Is loan is approved by SBA‚ borrower is requested to visit bank to sign loan docs. Ch. 17 Q. 2 - What are some dangers of operating a restaurant as a partnership? Each partner can create debts for the partnership. Partnerships can be dissolved by death‚ disagreements‚ sickness or divorce (if partnership is between husband and wife). When there are loses‚ each partner tends to blame the other for the loss. Q. 3 - If you wanted to operate your restaurant as a corporation but
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’s short-term assets and its short-term liabilities? A. working capital B. debt C. investment capital D. net capital E. capital structure Refer to section 1.1 AACSB: N/A Difficulty: Basic Learning Objective: 1-1 Section: 1.1 Topic: Working capital 4. A business owned by a solitary individual who has unlimited liability for its debt is called a: A. corporation. B. sole proprietorship. C. general partnership. D. limited partnership. E. limited liability company. Refer to section 1.2 AACSB:
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master limited partnership pipeline company from Enron for $40 million in 1997‚ founding Kinder Morgan‚ Inc. (KMI) 1. The primary benefit of an MLP comes in the form of tax savings. While shareholders in a corporation face double taxation‚ owners of a partnership are taxed only once (when receiving distributions). Corporate income tax does not exist in the partnership. When cash distributions to MLP owners exceed partnership the difference is counted as a return of capital to the limited partner
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There are four different forms of a business organization. They are a joint-stock company‚ limited liability company‚ partnership‚ and sole proprietorship. These forms of a business organization were started to help business owners with valuable support to make them profitable and successful. The first form of a business organization is a joint-stock company. Joint-stock companies are comprised of entrepreneurs that will raise the company’s wealth by selling stock shares to investors. There are
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is an interesting show to watch‚ because it kind of gives a more personal feel to the stock market‚ and insight as to how investors think and view businesses to decide on whether or not they would be a profitable investment. Limited liability Company In a limited liability situation‚ an Entrepreneur or business owner is not personally liable for the company. This is the way the business owners can protect their personal assets‚ in case their business goes bankrupt. The only money that is at risk
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