The limited liability partnership; A hybrid of two different forms of business organizations – the partnership and the company. The Limited Liability Partnership (LLP) was introduced as a new business entity in Singapore in 2005. Its definition under S14 of the Limited Liability Partnership Act (LLPA) shares a resemblance to S1 of the Partnership Act (PA): it comprises of two or more persons carrying on a lawful business in view of profit upon registration with the Accounting and Corporate Regulatory
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world-class business. Which student is correct? A. Both B. Student A only C. Neither D. Student B only 3. Which of the following represents the basic accounting equation? A. Owners ’ Equity − Liabilities = Assets B. Liabilities = Assets + Owners ’ Equity C. Assets = Liabilities + Owners ’ Equity D. Assets + Liabilities = Owners ’ Equity 4. Nearly a week before Hurricane Katrina reached New Orleans‚ Wal-Mart began moving trucks and supplies into position‚ as specified in the company ’s ________ plan.
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History of Tort Law in India and Tort Law in the United States Of America A tort can be known as that area of law wherein the courts provide remedies of permitting a lawsuit for damages in acknowledgement of a private or civil wrong. In India and the United States Of America‚ resemblance in law‚ if any‚ seems to have been inherited from the legal practices as took place in the British era. In India‚ tort law has been only in implementation since towards the end of the British rule. However
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India’s large population - asset or liability? In his theory of population‚ Malthus stressed the need of keeping population within limits to the point he called Optimum. At this point in time‚ India has a population of about 1.27 billion people‚ and it supports upto 17% of the entire world’s population. Of these 1.27 billion people‚ 50% are below the age of 25‚ and 65% are below the age of 35. This means that the major part on India’s population are students and young workers. There are more
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Liability Alex Washington ACC 205 Principles of Accounting I Instructor: James Rodisch July 28‚ 2013 1. Payroll accounting. Assume that the following tax rates and payroll information pertain to Brookhaven Publishing: * Social Security taxes: 6% on the first $55‚000 earned per employee * Medicare taxes: 1.5% on the first $130‚000 earned per employee * Federal income taxes withheld from wages: $7‚500 * State income taxes: 5% of gross earnings * Insurance withholdings:
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explosions from Defendant’s construction site injured our Plaintiff. Under the doctrine of respondent superior “an employer is liable for the negligent acts or omissions of his employee which are committed within the scope of his employment. Liability based on
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the objective of upholding a safe and healthy work setting. The state of Maryland is not dissimilar. This document is envisioned to deliver the process of civil complaints within the state of Maryland; with how criminal liability is regulated and the procedure’s in which the liability is executed. Every process is distinctive to its specific class. The civil complaint process is first; according to the American Heritage dictionary which describes civil complaint as the presentation by the complainant
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2. THE FEATURES OF THE LIMITED LIABILITY COMPANY Limited Liability Company‚ along with other types of business entities‚ as well as business partnerships‚ cooperatives‚ state and municipal unitary enterprise is a commercial organization‚ namely organizations that pursue profit as the main goal of their activities and distributing the profits among the participants. This limited liability is characterized by the fact that the current (operational) management in the company (as opposed to partnerships)
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Long Term Liabilities – Bonds MULTIPLE CHOICE QUESTIONS EXERCISE 1. From the standpoint of the issuing company‚ a disadvantage of using bonds as a means of long-term financing is that a. bond interest is deductible for tax purposes. b. interest must be paid on a periodic basis regardless of earnings. c. income to stockholders may increase as a result of trading on the equity. d. the bondholders do not have voting rights. 2. If a corporation issued $3‚000‚000 in bonds which pay 5% annual interest
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July 4‚ 2012 BAM530 Business Ethics Unit 3 Question #3: Evaluate the concept of strict liability. Strict liability is the legal responsibility levied on a person or company for certain damages or injury even if they were not at fault. Strict liability can even apply even if the person or company did not physically commit any act to cause the actual injury. Corporations can be held liable for the defects of their product even if they did not know about the problem or harm
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