LIT 1 Task 1 Sole Proprietorship A sole proprietorship is the most common type of business in the United States. It is formed when a person starts a business‚ but does not register it as a corporation‚ or a limited liability company. Most contractors‚ consultants‚ and home businesses operate under this form of business. Sole proprietorships are easy to form‚ and provide the owner with total control over the business. All of the profits belong to the owner‚ because the business and the owner
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cannot be amended by Government itself. The structure of the public corporation can be altered only by Parliament. 7. It has its own independent administration. 8. It is a separate juristic person. It can sue and can be sued. 9. For tortious liability‚ it is held liable. Article 300 does not apply. 10. Section 123 (Privilege of Communications of State Affairs) of Evidence does not apply to public corporations. 11. Article 299 does not apply to public corporations. 12. The labor problems
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BEST AGRO FOOD LIMITED GENERAL INFORMATION * History and development * Size of the unit * Munufacturing process * Organization structure * Time keeping system * Employer service HISTORY AND DEVLOPMENT We know that all companies has its own history and devlopment. History is needed in every companies establishment. The best agro foods pvt. Ltd. was established by mr. Hiren vasani in rajkot india in1995. Just before 10 yrs. newly in-corporated
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INTRODUCTION… When any company reaches out to the public to fund its visions‚ it is the prospectus that they send out –that ‘letter of offer’ that can turn dreams to reality. The prospectus could thus be visualized as the envoy of the company‚ sent to elucidate detailed information to woo potential investors from the general public. Countless business legends have been created‚ entirely because companies invited the public to subscribe to their securities or trade in existing securities‚ and thereby
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FORMATION OF A COMPANY I. Promotion : Refers to the entire process by which a company is brought into existence. It starts with the conceptualisation of the birth a a company and determination of the purpose for which it is to be formed. The persons who conceive the company and invest the initial funds are known as the promoters of the company. The promoters enter into preliminary contracts with vendors and make arrangements for the preparation‚ advertisement and the circulation of prospectus
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The businessman control the world. They are their own boss‚ free to do whatever they want‚ and are the most richest . They understand and know how the world work. We heard about a lot of great businessman stories such as Mark Zuckerberg‚ the creator of Facebook that start with a little website page for his college to allow them to chat‚ list their classes and homeworks. And now it’s know as one of biggest social media right now‚ making over forty billions dollars the years. We can also think about
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The owner and the business are considered one. The owner takes all the risk and receives all the profits. It is easy and inexpensive to start up a sole proprietorship however a sole owner has trouble raising capital which could limit growth. • LIABILITY –If the business fails the owner is financially responsible and my lose everything. • INCOME TAXES – The proprietor and the business are taxed together. • LONGEVITY/CONTINUITY – The business dies with the sole proprietor. • CONTROL – There is
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that some see it as today Milestones Discuss corporate liability Corporate liability is an assessment of the activities that a corporation may be held legally liable for in a court of law. Under the law‚ individual people are considered liable for their actions‚ but a corporation is an entity‚ not a person‚ making it somewhat more challenging to make decisions about legal liability for corporations. The law in terms of corporate liability varies worldwide and some critics have claimed that it has
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responsibility on someone or something‚ the who-dun-it or what-dun-it sense. • The second-type of responsibility ascription‚ parasitic upon the first‚ involves the notion of accountability. "Having a responsibility" is interwoven with the notion "Having a liability to answer‚" • Responsibility types: there are two different types of responsibility: one of then is a the responsibly of required or expect to do something. The second type of responsibility is when you should do something because it is morally
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FIN 521 Corporate Finance‚ Section A Case 2. Pension Plan of Bethlehem Steel Zhineng (Jason) Luo zluo7@illinois.edu 1. The stakeholders in the defined-benefit pension plans include: (1) Plan sponsor‚ often is employer‚ who is responsible for making fixed monthly payments to plan participants from retirement until death. (2) Plan participants‚ often are current or former employees‚ who are eligible for benefits
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