Aphrodite is wrong in taking long lunch hours and making large withdrawals. If you are running a partnership business‚ each one of you must contribute one’s skills‚ knowledge and efforts in running the business to have a successful outcome. c) How might the partnership agreement be revised to accommodate the differences in Aphrodite’s and Venus’ s work and withdrawal habits? The partnership agreement might be revised based on each of the partner’s capital. If Venus puts in a lot of
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Income: from whatever sources derived Sec. 702(a)(8)- owners of partner and S corp – items subject to ord income treatment are lumped ‘S’-Corporation vs. Sole Proprietorships comparison: Note: 1 GI‚ Prop G/L‚ Prop Non-Recog‚ Sale and called 702 Income or loss. Recognized even if no cash is distributed. Accordingly‚ generally not (a) BOTH have single taxation; ‘S’ over Prop-(b)Liability shield except for personal profession of Business & Capital
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BUISNESS PLAN OF BFMZ TECHNOLOGIES 4. Business and industry profile A. Industry Analysis 1. Industry background and overview Developing countries of the world are facing enormous problems and Pakistan is no exception. Pakistan is a developing country in South Asia which is the fourth largest populated country in the region and sixth largest country in the world. Pakistan is facing serious problems in almost all the sectors‚ but energy problem has impacted the economic development severely. Pakistan
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female members in a HUF‚ the HUF would still exist. HUF as a partner in a partnership firm HUF is a joint family consists of all lineally descended from a common ancestor. Hence‚ HUF is a group of members of the same family. The "father"‚ or the "senior member" of the family called "Karta"‚ ordinarily manages the property belonging to Joint Family. Hence‚ the status of HUF cannot be termed as person. The partnership is a relationship between persons who have agreed to share the profits of a
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in return for a percentage of ownership. It is at Lou’s and Jose’s best interest to make their business a Limited Partnership business. A limited partnership is the best option for Lou and Jose since they have one partner who will invest capital but will not participate in management (Cheeseman‚ 2010). In order to do so Lou and Jose must file for a certificate of Limited Partnership through the secretary of state and
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public reporting‚ a business partner’s agenda‚ the best method to reach financial goals‚ as well as considering the different types of financial statements associated with each form. The four basic forms of a business are sole proprietorships‚ partnerships‚ c corporations and s corporations. Each of these forms has distinct advantages and disadvantages in relation to taxes‚ legal implications‚ accounting requirements and meeting the business’ objectives. Please refer to the illustration of these
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how expenses‚ compensation and benefits are treated; and the problems that the business owner may encounter” (Forms of Business Organization 4) Business in the Unites States can be organized in one of three basic legal forms: sole proprietorship‚ partnership‚ and corporation; each one has its own advantages and disadvantage which help owners understand the unique problems facing in his business prospects. First‚ sole proprietorship is a business owned by one
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I. INTRODUCTORY PAGE: A. NAME AND ADDRESS OF BUSINESS Name : Asha Clinic Address : Mohakhali (opposite Korail Slum area) B. NAMES AND ADDRESSES OF PRINCIPALS Ashreen Mridha Hs 1‚ Rd 8‚ Sector 13‚ Uttara‚ Dhaka 1230 Razin Mahmud Hs 43‚ Rd 23 Banani BLK B Dhaka 1213. Muhammad Minhazul Huq Apartment 4A‚ House 46‚ Road 1/A Old DOHS Banani‚ Dhaka-1206 Tasnia Tabassum Hs 13‚ Rd 3‚ Sector 10‚ Uttara‚ Dhaka 1230 C. STATEMENT OF FINANCING NEEDED Finances
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The Benguet Corporation provides 5-year summary of financial performance‚ including the individual subsidiaries’ contributions and the resulting effects which results of return of the company stakeholders. The Benguet Corporation tried to have a partnership to different small mining corporations which results higher
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corporations outline Georgetown University Law Center Prof. James V. Feinerman Fall 2012 I. Agency‚ Partnership and Limited Liability Companies 1 AGENCY Agency is a fiduciary partnership that results from the manifestation of consent by one person to another that the latter shall act on the former behalf & subject to his control‚ & consent by the latter so to act. E.g. Shareholders (principals) – officers (agencies). Principal: Has power to dictate how the agent will
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