least three advantages and three disadvantages of your chosen form of business ownership. The form of business ownership I would choose for my company would be Sole Proprietorship. A business owned and operated by a single individual -- and the most common form of business structure in the U.S. The advantages with a sole proprietorship: 1. Ease and cost of formation: simply announcing you are in business and requesting any licenses and permits you
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Task 1 T1.1 Businesses can be mainly identified in two different forms‚ by taking an example differentiate the limitations of those two forms of businesses The 2 different business forms are Public Private What is public organization ? A public organization is where the government of the country controls it‚ in favor for their fellow country mate. The payment for the employees are often made by the tax collected from public. Example of private sectors are : State Prison‚ Government
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Financing decisions also involve dividend decisions because payment of dividends reduces the internally generated funds that are available. (a) A sole proprietorship is a business owned by one person. Many small service businesses‚ retail stores and professional practices are operated as sole proprietorships. Although the owner of a sole proprietorship is legally liable for its debts‚ the business should be regarded by the proprietor as a separate entity. (b) A partnership is a business owned by
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business. COMPANY HISTORICAL BACKGROUND SM’s Rice Trading is a newly business LEGAL STRUCTURE AND OWNERSHIP SOLE PROPRIETORSHIP The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts. A sole proprietorship can operate under the name of its owner or it can do business under a fictitious name‚ such as Nancy’s Nail Salon
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are different types of business structures and they are sole proprietorship‚ partnership and Corporation. So therefore when starting a business one has several options in the type of business structure they can use. A sole proprietorship is known to be one of the simplest structure there is and is inexpensive to start off. It is about 75 percent of all business in the United States. The owner has full control over the business and is has sole rights of the profit the business acquire. All business
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forms a company might have as it evolves from a start-up to a major corporation. List the advantages and disadvantages of each form. Answer: There are three main organizational forms and their advantages and disadvantages are listed below: Sole proprietorship – These are ‘one-man’ operations opened by one person. They are easy to create‚ have little regulations‚ and no corporate income tax. However‚ the life of the operation is limited to the life of the creator‚ there is
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Diego‚ CA: Bridgepoint Education. Discussion 2 A sole proprietorship is a business owned by only one person. The most common form of ownership‚ it accounts for about 72 percent of all U.S. businesses. It is the easiest and cheapest type of business to form: if you are using your own name as the name of your business‚ you just need a license to get started‚ and once you are in business‚ you are subject to few government regulations. As sole owner‚ you have complete control over your business.
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CHAPTER 1 INTRODUCTION Shoe polish is a product used to shine‚ polish‚ and protect leather footwear. Polishing shoes will increase their life span. In present times‚ everybody always use shoe polishers for their shoes to look presentable and fabulous to walk with attractive thus boosting more confidence to its beholder. But no everyone knows that traditional shoe polish which are available in market made of harmful chemical and synthetic ingredients which has a bad door. Since
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business structures that that affect taxation (Hamel‚ 2014)”. Business owners may select one of types of business structure that affect taxation such as sole proprietorships‚ partnership or corporation. Each structure is built‚ taxed‚ ruled and regulated by the Internal Revenue Service (IRS). It is the responsibility of the a sole proprietorship owner to report annual business income for taxation purpose. For corporations‚ the entity is taxed and the owner is not directly charged with taxation.
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What should be the goal of the financial manager of a corporation? Why? What advantages does the corporate form of organization have over sole proprietorships or partnerships? If the corporate form of business organization has so many advantages over the sole proprietorship‚ why is it so common for small businesses to initially be formed as sole proprietorships? The three areas are: 1. Capital budgeting: The financial manager tries to identify investment opportunities that are worth more to the
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