TASK 1 (A). SOLE TRADER : Is a business which is owned and manages by one individual‚ who is self-employed and in some case employ other people on either a full time or part time basis. EDEXCEL HNC/HND BUSINESS (2009). A sole trader normally use his own personal funds/capital to start the business and he decided on types of goods or services to produce‚ the location‚ what capital or funds is required etc examples of sole traders are self employed plumbers‚ news agents‚ local
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whether or not to invest P50‚000 in a business that has pending lawsuits against it. If Pie invests and the business loses the lawsuits‚ the most Joe can lose is __________. a. P50‚000 if Joe is a general partner b. P50‚000 is Joe is a sole proprietor c. P50‚000 if Joe is a limited partner d. P50‚000 plus his share of the lawsuits if Joe is a limited partner 6. All of the following business organizations provide limited liability to their owners except: a.
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avoiding making sudden judgments‚ and you must resist temptation to interrupt the other person. (Sole‚ 2011) We all know that it can be hard for someone to pay attention. Brandon‚ when Ashley is speaking you need to pay more attention to her. Critical listening should be when you focus your attention on hearing‚ understanding‚ and remembering pieces of information that you may need later on. (Sole‚ 2011) I know I get upset when I talk to Lesley and I know for a fact that when I am telling her
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Memorandum To: Owner From: RE: Business Type Date: October 8th‚ 2012 Changing the type of business structure is not a small consideration. You have operated for years as a Sole Proprietorship‚ but it appears that you have outgrown that particular business type and may benefit from changing to a different type of business. Based upon our previous conversation‚ I will summarize my interpretation of your business concerns in the bullets below: • Liability. You are concerned
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product/service skills and technical management skills. Skills need to run the business: * Time Management: As a sole trader this skill is needed because I will need to allocate specific time to projects and other areas of the business. This would allow me to focus certain amount of time to other assets of my company. * Understanding Responsibility: This is important for me as a sole trader as I would need to be able to carry out tasks and fulfil responsibilities‚ this is important because as
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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 file
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Organizations Carol Sauceda FIN/419 February 4‚ 2013 Kristtine Donnelly Legal Forms of Business Organizations In business‚ there are legal forms that organizations are classified under. There are three most common forms of business organizations‚ sole proprietorship‚ partnership‚ and corporation. The life cycle theory of the firm starts out as a proprietorship. As a firm grows larger‚ more complex and needs more capital than is available from the proprietor‚ the proprietor can choose to change the
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barriers to effective interpersonal interactions. The lack of attention‚ distractions‚ and differences in perception. “If you are committed to the relationship‚ you are dedicated to your partner and are unlikely to leave if something goes awry”. (Bevan & Sole‚ 2014) lll. In order for your relationship to flourish both of you will need to build on your individual self-concept‚ this includes self-image‚ self-esteem‚ and or ideal self. “For example psychologist‚ Michael Argyle provided a summary of four keys
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consistently. All formal accounting statements should be created‚ preserved and presented according to the concepts and conventions’. The following will look at each of the concepts and conventions and relate them to the profit and loss account for a sole trader. GOING CONCERN This concept assumes a business will continue to trade year on year and will not go broke unless there is a reason to the contrary. This has important implications when valuing the businesses assets and liabilities. In the
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own. The 4 forms of organization are Sole Proprietorship‚ Partnerships‚ Corporations and Limited Liability Company. Each of these organizations operate differently with advantages and disadvantages to it. Sole Proprietorship: A sole proprietorship is a small business that is own by one individual who is responsible for running the business. The owner owned all profits and assets but is also responsible for all liabilities and debts. The advantage of a sole proprietorship is you are at complete
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