assumed authority over corporations. Although corporations initially served only limited purposes‚ the Industrial Revolution spurred their development. The corporation became the ideal way to run a large enterprise‚ combining centralized control and direction with moderate investments by a potentially unlimited number of people. The corporation today remains the most common form of business organization because‚ theoretically‚ a corporation can exist forever and because a corporation‚ not its owners or
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CLASSIFICATION OF CORPORATION BASED ON THE SOURCE OF CAPITAL Stock corporation is an entity where capital is in the form of capital stock divided into shares Corporate earnings may be distributed to shareholders as dividends. Non-stock corporation is one where no part of its income is distributable as dividends to members ‚ trustees ‚ or officers. BASED ON THE TYPE OF OWNERSHIP Public corporation is formed or organized for the government or a portion of the state. Private corporation is formed for
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business form from sole proprietorship into corporation. And Mary Brown‚ a U.S citizen and the other client‚ would like to invest $250‚000 into this corporation. The Green Thumb Nursery has earned approximately $55‚000 per year; both Paula and Mary estimate that the new corporation would incur loss of $50‚000 per year for the next two years resulting from the landscaping business. From the third year‚ the profit would be $80‚000 annually. Besides the corporation business‚ Paula and Mary can earn about
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Question 1: As Multinational Corporations (MNCs) have become a growing force in world trade they have attracted supporters and critics. Briefly discuss the arguments put forward by both sides. Explain how the WTO Organisation assists in managing world trade. Advantages and disadvantages of MNC’s: Advantages: • MNC’s impact on host country: • Capital Formation (money which comes into the country) • Technology transfer • Regional and sectoral development • Internal Competition and Entrepreneurship
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Legal 2 Test 2 Studyguide Sole Proprietorships the simplest form of business organization. Sole proprietorships are the most common form of business organization in the US. Major advantages: * Forming a sole proprietorship is easy and does not cost a lot. * The owner has the right to make all management decisions concerning the business‚ including those involving hiring and firing employees. * The sole proprietor owns all of the business and has the right to receive all of the
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Most future business owners have an idea of what type of service or product to offer. Deciding the type of business organization to become can be a tough decision. Whether the it be a sole proprietorship‚ partnership‚ C- Corporation‚ S- Corporation‚ or a Limited Liability Corporation‚ there will be many factors to take into consideration. It is important to be educated or familiar with each business organization along with implications and benefits. The reason why the proper business organization is
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Question 14-4 Internal Revenue Code Section 351 permits shareholders of a corporation to defer recognition of a gain or loss on the transfer of assets to the corporation. The transfer of property may be made when a new corporation is formed or may reflect additional capital contributions to an existing corporation. Without Section 351‚ a sole proprietorship or a partnership would have difficulty adopting the corporate form of organization for legal and/or tax purposes because the transfer of appreciated
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first I should try to explain what a corporation is. In 1819‚ Chief Justice Marshall of the United States Supreme court said: " A corporation is an artificial being‚ invisible‚ intangible‚ and existing only in contemplation of the law." In the Webster’s College Dictionary corporation is defined as "an association of individuals‚ created by law and having an existence apart from that of its members as well as distinct and inherent powers and liabilities." A corporation is divided into many units called
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forming a corporation under the laws of the Philippines. AND WE HEREBY CERTIFY: FIRST: That the name of the said corporation shall be: ________________________________________________________________________ _ SECOND: That the purposes for which said corporation is formed are: B. That the corporation shall have all the express powers of a corporation as provided for under section 36 of the Corporation Code of the Philippines. THIRD. That the place where the principal office of the corporation is to
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Income and Tax Payable for Corporations I. Calculation of Net Income For Tax Purposes and Taxable Income - Corporations follow the applicable ordering rules of Section 3 in computing NITP Net Income for Tax Purposes Less: Div C deductions Taxable Income Most of the Div. C deductions for corporations are DIFFERENT from the Div. C deductions for individuals. Div C deductions for Corporations: 1. Charitable donations
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