QUESTION : ACCORDING TO MAX WEBER‚ LEGAL-RATIONAL AUTHORITY IS THE MOST RATIONAL TYPE OF AUTHORITY.DO YOU AGREE WITH THIS STATEMENT? GIVE REASONS FOR YOUR ANSWER. In every society‚ whether pre-modern or modern‚ there has been a hierarchy of command of which everyone must adhere to. In order for this system to operate‚ there must be someone in charge. Since every human being is found in a group or an organization which may be a country‚ tribe‚ institution or a family‚ it is obvious that the
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forms of business organization‚ and what are the advantages and disadvantages of each form? For a corporation‚ what is the overall goal of the financial manager? Do you agree with this goal? Why or why not? A business organization is defined as an entity created for the purpose of conducting an industrial or commercial enterprise (“Business organization‚” n.d.). The following are the most popular forms of a business organization: Sole Proprietorship (Brooks‚ 2013) Partnership (Brooks‚ 2013)
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Part A SOLE PROPRIETORSHIP: LIABILITY – Sole Proprietorship caries a large amount of liability because your personal credit can be affected if business fails. INCOME TAXES – As a sole proprietorship you only file one income tax for yourself and your business combined. LONGEVITY/CONTINUITY – A Sole proprietorship can grow as fast or as slow as the owner chooses. CONTROL – Sole proprietor has complete control over every aspect of the business. The sole proprietorship can grow at fast or
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University of Applied Sciences Heilbronn‚ Germany Studies: International Business & Intercultural Studies Winter Term 2004/2005 Course International Law "International Corporate Law Shown on the Cases of Centros‚ Überseering and Inspire Art" Alexandra Klank Sabrina Fährmann IBIS 4 Content 1. Introduction 3 2. Daily Mail and General Trust PLC 4 3. Centros Ltd. 4 4. Überseering BV 5 5. Inspire Art Ltd. 6 6. Evaluation and future prospects 6 7. Sources 7 1. Introduction
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NEPALI LEGAL SYSTEM Submitted to BA/LLB Programme Nepal Law Campus Faculty of Law Tribhuvan University Submitted by SauravNath Pant BA/LLB‚ 3rd Year Roll No. 13 Section: A March 3‚ 2013 1.1 Introduction I have always been a firm believer in trial by jury. Somehow it is ingrained in me. As it is in most Englishmen. It is a lesson which has been handed down from one generation to another during the last 800 years. The trial by jury – a tradition held dear to the British – is a legal proceeding
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ACCOUNTANCY 3 forms of Business Organization *Sole Proprietorship *Partnership *Corporation Sole Proprietorship A sole proprietorship is the simplest form of business organization because it is run by just one person. There is little complexity in starting up a sole proprietorship because it may involve just getting a license and finding some premises. This is why most of the businesses are in the form of sole proprietorship. It is normally feasible for service providers such as physicians
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American English‚ the word corporation is most often used to describe large business corporations. In British English and in the Commonwealth countries‚ the term company is more widely used to describe the same sort of entity while the word corporation encompasses all incorporated entities (Word Heritage Encyclopedia n.d). However‚ the wider meaning of the word corporate is an internal corporate management and internal business administration of any organization‚ where
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• LIABILITY – Each partner assumes unlimited liability for the debts of the business and can be held totally responsible for debts and malpractice committed by any of the partners. • INCOME TAXES – A partnership is a pass-through entity‚ not a separate taxable entity‚ and no federal income tax is imposed on the business itself. Each partner clams the profits or loss on their personal taxes. • LONGEVITY/CONTINUITY – The death of a partner may automatically end the partnership. The business may survive
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Recommendations Introduction Below are my recommendations to Mr. Philip Long‚ the CFO of DeviceCo‚ regarding tasks he has assigned me to do. The tasks entail answering the following questions in my analysis of whether LeaseMed is a Variable Interest Entity (VIE) and if DeviceCo should consolidate LeaseMed as a primary beneficiary: (1) Does DeviceCo qualify for the business scope exception‚ (2) Does LeaseMed have sufficient equity to finance its activities without additional subordinated financial support
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Taxation of a sole proprietorship is figured on the owners personal taxes. The owner is responsible for reporting all gains and losses for the firm on his/her income tax. | General Partnership | A general partnership is a business entity that is made up of two or more entities to carry on a trade or business. | All the partners are personally liable for the partnership debts | Limited partners are prohibited by law from participating in management‚ can lose more than their investments‚ and get less than
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