individual is called a: A. corporation. B. sole proprietorship. C. general partnership. D. limited partnership. E. limited liability company. 7. A business formed by two or more individuals who each have unlimited liability for business debts is called a: A. corporation. B. sole proprietorship. C. general partnership. D. limited partnership. E. limited liability company. 8. The division of profits and losses among the members of a partnership is formalized in the: A. indemnity clause. B. indenture
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A business is the fruit of a seed that a sole person or a group of people bears. The decision of what type of business to open will greatly affect the company in the long run. Many options exist for the person(s) such as opening a sole proprietorship‚ corporation‚ Limited Liability Corporations‚ partnerships‚ etc. Limited Liability Corporations and partnerships are very similar company types‚ but also are different. Limited Liability Corporations have their own benefits just as corporations‚ and
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Wang Fang Lei Sole Proprietorships? Partnerships? LLC? S or C Corporations? Which One is the Best Solution? A few years ago‚ my husband sets up his own computer company‚ focus on providing computer services to customer. Before he starts doing the business‚ we went to a CPA firm to get a license to legally set up the new company. After collecting some basic information of our business‚ the CPA‚ then choose a Sole Proprietorships business form for us. At that time‚ we don’t know that much about
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our mind that what type of company we are going to setup in India? Types of business entities in India: In India‚ the following types of business entities are available • Private limited company • Public limited company • Unlimited company • Limited liability partnership • Partnership • Sole proprietorship • Liaison office • Project office • Branch office • Joint venture company • Subsidiary company Both the Indian
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Public Sector: The public sector is that part of national economy that is under the supervision of national‚ state or provincial‚ and local governments. They are responsible for the provision of certain goods or services that are not provided by the private sector. Public sector includes national and local governments‚ their agencies‚ and their chartered bodies. The public sector is one of the major sectors of any economy; such as in the US‚ it covers about 20 percent of the entire economy. Difference
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Instructor Name: Legal Underpinnings In case of breach of contract liability shall be limited or unlimited depending on the type of activity. There are five types of business organizations in the United States. These forms are sole proprietorship‚ a partnership‚ limited liability company‚ partnership‚ and limited liability company. Each of these formations business has advantages and disadvantages for the employer. There are different levels attributed to the owners and partners
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return for U.S. made computers. This arrangement is an example of: barter 8. The Ozark Bike Company recently entered into an agreement with a large Japanese retailer to distribute its bicycles in Japan. Ozark Bike Company sees itself in a favorable position because: the yen is gaining strength compared to the U.S. dollar making it cheaper for Japanese customers to buy U.S. products. 9. The two basic types of tariffs are: Revenue and protective 10. A ________ tariff is designed to raise the price
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Mark and John. There are 4 forms of organization that are available for any individuals or partners that want to start a business of their 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
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Advantages of Sole Traders It is easy to set up a sole trader. A person can set up a business immediately. There are few‚ if any‚ forms to fill in or procedures needed to set. Easier to run than any other types of business. The owner is in sole charge‚ easier in terms of decision making. Tax Advantages Taxed differently eg. NI contributions are low There are no legal fees to set the firm Control The owner is in sole charge – can make whatever changes they want No meetings required to implement
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Introduction 2 3.0 Background of Limited Company and Sole Trader-Nokia Mobile and Accountant 7 4.0 Main Advantages of Limited Company Over The Sole Trader 13 5.0 Examples of Limited Company Over The Sole Trader 16 6.0 Conclusion 19 7.0 Reference 20 8.0 Coursework 21 2.0 INTRODUCTION 3.0 PROBLEMS AND EFFECT OF COMMUNICATION BETWEEN THE MANAGER‚ ANWAR PATEL AND HIS SUBORDINATE Anwar Patel was the manager of the MATA SHOE COMPANY at Thana. First of all‚ as a manager he
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