is franchising? (0.5 points) Franchising is a way of turning a company into a parent company with smaller retail outlets owned by independent operators 5. What can happen to a business owner who has personal liability for their company? (0.5 points) A business owner who has personal liability for a company can be held personally accountable for the financial debts and illegal actions of the company. 6. What is an entity? (0.5 points) A person‚ partnership‚ organization‚ or business that has a legal
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Chapter 10 Quizzes Salta Company installs a manufacturing machine in its factory at the beginning of the year at a cost of $87‚000. The machine’s useful life is estimated to be 5 years‚ or 400‚000 units of product‚ with a $7‚000 salvage value. During its second year‚ the machine produces 84‚500 units of product. Determine the machines’ second year depreciation under the units of production method: Answer: $16‚900 Cost-Salvage Value/Total units of production (87‚000 – 7‚000)/400‚000 = .2 .2
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Co-op Training in Mahmoud Alawi Ali Reda & Brothers Co. Supervisor: Dr. Nizzam Prepared by: Abdulbari Redwan Student No: 08126 Table of Content No | Content | Page | 1 | Chapter 1: Introduction | 4 | | Objectives of co-op training | 4 | | Overview the job training | 4 | | Company overview | 4 | 2 | Chapter 2 : Background of the company | 5 | | Introduction to the industry | 5 | | Company background | 5-6 | | Department functions and duties | 5-6 |
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are jointly responsible for any debts. Unlimited liability: unincorporated businesses such as sole traders and partnerships have unlimited reliability‚ which means owners are responsible for all the business’s debts. Public limited company (PLC): trades on the stock market‚ the public can buy shares. Private limited company (ltd): sells shares privately with permission of owner to known individuals Incorporation: the process of forming a limited company such
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can make all the decisions * You keep all profits the profits. * Accounts and records can be kept private. * They can provide specialist services. * They can also respond to customer’s needs and queries faster. | * They have unlimited liability. * Money can become very difficult to obtain. * Costs and prices are usually higher than the competition. * Holidays can become very difficult to take. * Illnesses can shut the business‚ unless a friend or relative take over. * Owners may
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the sector it operates in. Provide information on the type of business and its liability. ONE of your organisations must be the City of Westminster College. Introduction In this task I will be investigating two businesses‚ one of them will be City of Westminster College and another one will be River Island. I will be providing a description‚ purpose‚ trading activities‚ sector‚ and type of business and the liability of each business. Description & Trading activities City of Westminster College
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each assessment criterion. Alternatively‚ centre documentation should be used to record this information. N026022 – Specification – Edexcel Level 2 Diploma for the Children’s Care‚ Learning and Development (QCF) – Issue 1 – April 2011 © Edexcel Limited 2011 49 Unit content 1 Understand partnership working within the context of services for children and young people Benefits for children and young people when adults work in partnership with others: working in partnerships eg with parents‚ carers
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other business or occupation whatever on his individual account during the existence of said partnership. Article V. - Each partner may make and take contracts for and on behalf of the partnership business‚ but contractsor purchases involving a liability of more than P100‚000 shall be made only on full consultation and with the approval of all partners. All contracts shall be made and taken only in the firm name. In case of disagreement as to making‚ taking or assuming any contract or obligation
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Square H. Product Liability The Company is guilty of strict product liability. It didn’t properly inspect the shipped goods. The defective product is the sole responsibility of the company. The reason being that the product was shipped faulty and the workers failure to properly inspect quality. Which under the strict product liability law makes the manufacture liable to the injured party. Under the theory of negligence the injured
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JOAQUIM PIRES BUSINESS ORGANISATION AND PROCESSES ASSESSMENT 1 2006 Question 1. Section (A) In a Limited liability company‚ there must be at least two shareholders with no maximum upper limit who own the company. All limited companies must be registered with the Registrar of Companies to whom the companies must send their annual financial statements. A limited company is separated in law from its owners. Because it has its own legal entity‚ any disputes concerning the company‚ will
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