require annual fees. LLCs are more expensive to form than partnerships. CORPORATIONS: A corporation is a legal entity that has most of the rights and duties of a natural person but with perpetual life and limited liability. Shareholders of a corporation appoint a board of directors and the board of directors appoints the officers for the corporation‚ who have the authority to manage the day-to-day operations of the corporation. Shareholders are generally liable for the amount of
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In a C-Corporation‚ the business is its own legal entity and assumes the liability for all debts and the individual shareholder’s assets are protected. This type of organization would protect you from your employee accident concerns as well as protect your personal assets from loss or debt incurred by the business. Income Taxes. C-Corporations must register their business with the IRS as well as state and local agencies and obtain a tax ID number. Since the corporation is a separate legal
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largest and most diversified technology and financial services corporations in the world. It has a wide exposure to different sectors of economy ranging from energy infrastructure‚ aviation‚ healthcare‚ transportation‚ and home and business solutions to financial services. Based on the peer group information from MorningStar.com‚ GE has several competitors‚ such as Siemens AG‚ 3M Co‚ Honeywell International‚ Inc.‚ ABB‚ Ltd.‚ Danaher Corporation‚ and Emerson Electric Co. (Exhibit 1). We selected these 6
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business‚ several decisions such as its legal structure must be made first. Five basic entity types exist in which to structure a business. These types consist of sole proprietorships‚ partnerships‚ limited liability companies (LLC)‚ C corporations‚ and S corporations. When determining the type of structure to use‚ comparison of different factors such as liability to the owners‚ taxation‚ and management controls must be conducted. Sole Proprietorships The sole proprietorship has one owner that
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proprietorship has only a single owner. A partnership has two or more owners. A corporation can have an unlimited number of owners. Liability In Sole proprietorship the liability is unlimited; owners are responsible for whatever profit the business gets and whatever loss the business incurs. In partnerships the profits and liability are distributed between the two or more owners according to their shares. In Corporations there is limited liability‚ and in case of failure shareholders may lose their
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Objective of the study The primary objective of the study is to gain practical insights of the business world. Case analysis truly fulfills this objective. It is one of the most general and applicable methods of analytical thinking‚ depending only on the division of a problem‚ decision or situation into a sufficient number of separate cases. The derived objectives of this particular case study of ‘Zimmer Holdings (A): Acquisition of Centerpulse‚ Switzerland’ are the following: * To ascertain
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In the study of criminology‚ corporate crime is defined by James William (2014)‚ “as a criminal act committed in the course of organizational activities for the benefit of the corporations”. Corporate crime would not have been recognized without the help of Sutherland‚ who was the first to perform research in that field (Waring‚ Chayet‚ 2001). He changed the traditional image of criminals‚ where crime was directly an outcome of poverty and introduced a criminal offender in a suit and tie (Waring
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Diff: E [i]. Which of the following statements is true? a. One of the benefits of incorporating your business is that you become entitled to receive unlimited liability. b. Sole proprietorships are subject to more regulations than corporations. c. Sole proprietorships do not have to pay corporate tax. d. All of the statements above are correct. e. None of the statements above is correct. Firm organization Answer: c Diff: E [ii]. Which of the following statements
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(OE) in a corporation rises or falls with the profitability of that corporation. OE equals the net assets of a corporation and is made up of two main components‚ paid-in capital and earned capital. Paid-in capital is made up of the funds provided by stockholders also known as contribution capital‚ and any additional paid-in capital from other sources. Earned capital consists of the retained earnings of a corporation and is derived from the profitability of operations within that corporation (Kieso‚
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The Importance of Creativity In today’s world‚ creativity is particularly desired. Creativity is a fundamental factor and is an important aspect for the continued success of any prosperous corporation. Most of the major corporations today have maintained their creativity and encourage their employees to be creative in order to survive the ever changing global economy. “In the past‚ creative individuals in a society were at best a mixed blessing-disdained‚ discouraged‚ even destroyed at the time
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