like licences; you may need a minimum of a business licence and tax registration to start up a business‚ but it depends on what sector you are operating in. To start up a business you need to categorise yourself into one of these ownerships‚ a sole proprietorship (A business owned and managed by a single person)‚ a partnership (A business
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reality during the implementation stage? Student Answer: Capital/money Commitment Management expertise A college education Comments: 5. Question : (TCO 1) The single biggest disadvantage of sole proprietorships is which of the following? Student Answer: Limited resources Limited skills Unlimited liability Double taxation
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PROBLEMS IN BUSINESS ARISING FROM SOLE PROPRIETORSHIP AND PARTNERSHIP AMONG BUSINESSMEN IN TAGUM CITY ____________________ A Research Paper Presented to the Faculty of the College Department ____________________ In Partial Fulfilment of the Requirements in English 2A ____________________ By: Maghanoy‚ Laira M. Luma-ad‚ Chriselle Mae P. Lumotos‚ Flora Mae D. Chapter 1 THE PROBLEM AND ITS SETTING Background of the Study Sole proprietorship and partnership are forms of business
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Exam 1. (TCO A) Which of the following statements is CORRECT? (Points : 10) It is generally more expensive to form a proprietorship than a corporation because‚ with a proprietorship‚ extensive legal documents are required. Corporations face fewer regulations than sole proprietorships. One disadvantage of operating a business as a sole proprietorship is that the firm is subject to double taxation‚ at both the firm level and the owner level. One advantage of forming
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Case Study Summary: There are various advantages and disadvantages of a sole proprietorship business. A sole proprietorship business may be run by family members and this can have a tremendous opportunity or a nightmare. Some families share success‚ challenge and opportunity in such business. Other families split apart and don’t even want to talk to each other. To improve relationships among family members we can establish a group like SOB which will offer a set of practical guidelines and
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overall investment for this business reaches 10 lakhs inclusive of equipments required for efficient farming such as Irrigation system‚ recycling system‚ tractor‚ spray equipment‚ scales‚ meters and tools. Management The business operates as a sole proprietorship under the business named of FARM PARADISE. The management team also includes managers‚ plantation experts and
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[NAME] FIN534 – Financial Management 21 Oct 2012 1. Which of the following statements is CORRECT? a. One of the disadvantages of a sole proprietorship is that the proprietor is exposed to unlimited liability. b. It is generally easier to transfer one’s ownership interest in a partnership than in a corporation. c. One of the advantages of the corporate form of organization is that it avoids double taxation. d. One of the advantages of a corporation from a social standpoint is that
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Bus-101 Kevin Lentz 06/2013 Chapter 1 Rooftop Restaurant and Lounge will enter into a market with perfect competition. With perfect competition Rooftop Restaurant and Lounge will have an infinite number of consumers with the willingness and ability to buy our products at a certain price. It would also have an infinite amount of producers with the willingness and ability to supply the products at a certain price. Rooftop Restaurant and Lounge is a new fine dining restaurant and lounge
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: Acctg. 1 V. Course Description: This is a continuation of the first course in accounting. It deals with transactions‚ financial statements‚ and problems peculiar to the operations of partnership and corporations as distinguished from sole proprietorships. Topics include: partnership formation and operations including accounting for the admission of partners‚ changes in capital‚ and profit-and loss sharing ratios‚ the conversion of an unincorporated enterprise into a corporation; accounting
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milk which is a good source of calcium it is nutritious yet affordable. The future product will be Fishy Yummy Yema also it has the mixture of fish. The business is registered at Securities and Exchange Commission (SEC) under Sole- Proprietorship. Sole Proprietorship is a type of business enetity that is owned and run by a single person. MILKYRON is manage by Nikki Y Pulumbarit as the general manager and Jessa P Alberto as the Assistant Manager. Product manager will be Nikki Y Pulumbarit responsible
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