ODEL Introduction of ODEL One of the successful business organization in Sri Lanka. It started on 31st October 1990 as private limited liability company and foundered by 48 years old Ms Otara Del Gunawardane.20 years later‚ they registered their company as public limited company on 24th February 2010. They always try to give quality products to customers. By today they became pioneer of the fashion industry because their profits are increasing day by day. History of ODEL Very first
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the entity that you will be choosing will be some form of partnership. In broad definition‚ a partnership is defined as a single business where two or more people share ownership‚ with each partner bringing specific contributions to the business. Since each member of the partnership will be taking on specific functions and liability with the partnership‚ it is extremely important that all agree on the specific structure that the partnership will take. The purpose of this memo is to provide an educated
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ORGANIZATIONAL FORMS Y The following is an explanation of six types of business models. I will explain the advantages and disadvantages‚ liability‚ incomes taxes‚ longevity‚ control‚ profit retention. Location and or convenience and burdens. In conclusion‚ the reader should have a clear understanding and overview of the six types of business forms. SOLE PROPRIETORSHIP The overall benefits of a sole proprietorship are the flexibility and inexpensive way you can organize and control the company
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University of Phoenix Material Business Forms Worksheet There are seven forms of business: sole proprietorship‚ partnership‚ limited liability partnership‚ limited liability company (including the single member LLC)‚ S Corporation‚ Franchise‚ and Corporation. 1. Research and provide three advantages and three disadvantages for each business form. 2. Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is legally necessary to
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business John‚ when starting a business one has several options in the type of business structure to use. The different types of business structures are the sole proprietorship structure‚ the partnership structure‚ the corporation structure‚ the S corporation structure‚ and the limited liability company structure. Each structure has advantages and disadvantages and possible tax consequences. The sole proprietorship structure is individually owned and operated. The sole proprietorship structure
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differentiate based on liability‚ tax implications‚ and what type of business is being evaluated when determining what structure to use. This paper will cover the advantages and disadvantages within the four types of business structures; Limited Liability Corporations‚ Corporations‚ Partnerships‚ and Sole Proprietorships. Corporations A corporation is a standalone entity. There are two types of corporations‚ general or S Corp. Advantages of corporations consist of limited liability‚ capital through
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University of Phoenix Material Business Forms Worksheet There are seven forms of business: sole proprietorship‚ partnership‚ limited liability partnership‚ limited liability company (including the single member LLC)‚ S Corporation‚ Franchise‚ and Corporation. 1. Research and provide three advantages and three disadvantages for each business form. 2. Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is legally necessary
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Wilson FIN 515- Assignment #1 13 July 2014 1. A corporation is a legal entity possessed by one or more shareholders. Shareholders for the most part have no liability for the exercises of the corporation (this is called "limited liability"). The corporation is overseen by Directors and Officers (who do confront a certain measure of liability for corporation’s movements‚ and thusly regularly buy protection). Concerning‚ a corporation may bring about "twofold assessment" on its pay: First the corporation
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set up several different forms of organization. First of all‚ a sole proprietor is someone who owns an unincorporated business by himself or herself. A general partnership is duties of where all partners participate to some extent in the day-to-day management of the business. Limited partnerships are very different from general partnerships‚ and are usually set up by companies that invest money in other businesses or real estate. The C Corporation is the standard corporation‚ while the S corporation
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news agents‚ local shop{grocers} etc PARTNERSHIP; is an agreement between two or more peoples to engage in a business in common with a view to profit. BPP CORE UNIT 2 BUSINESS (2009). In essence‚ a partnership comes into being when two or more people establish a business which they own‚ finance and run jointly for personal gain‚ irrespective of the degree of formality involved in the relationship. EDEXCEL HNC/HND BUSINESS (2009). Partnership does not have its own distinct legal personality
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