business is on you. • Liability – There are several liability within sole proprietorship. As the owner you are a liability because you are one person (for example: If you get sick for several days that is revenue that you are losing to pay your bills). Weather is also another liability for your business pertaining to being primarily outside (for example: If weather is bad for weeks that is lost revenue). Lastly sole proprietorship suffers from unlimited liability. If your business is spending
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LAW AND CONTRACTS 1.Eagle Stores‚ Inc. borrows $5‚000 each from EZ Loan Corporation‚ First National Bank‚ and Great Products Corporation. Eagle uses its "present inventory and any thereafter acquired" to secure the loans from EZ Loan and First National. EZ Loan perfects its interest on April 1‚ followed by First National on April 5. Eagle buys new inventory on April 10 from Great Products and signs a security agreement‚ giving Great Products a purchase-money security interest (PMSI) in the new
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Exporting – Indirect exporting means that the company does not deal with foreign customers or companies by itself but uses intermediates such as export companies‚ export agents‚ or export partner network to take care of all export activity. Indirect exporting should be taken into consideration if a company’s own prerequisites in international business are not enough and if the intermediate’s resources as well as the know-how benefit the company. This entry alternative has quite low risks for the
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five different forms of business organizations that I can consider when planning to start a business. They are 1. Sole proprietorship 2. Partnership 3. C corporation 4. S corporation 5. LLC – Limited Liability Company It is important to understand each organization’s structural make up‚ to make an informed decision about which form of business organization is best suited for my consultant business. In order to select the most appropriate business
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your company and are curious about what business organization would best fit your needs. I have attached a brief description of the most popular forms of business organization and hope that they will help you understand the perks and drawbacks associated with each. Below I have written my suggestion as to what route you should take based on the concerns you provided with your email. I believe that a company of your size‚ profitability‚ and future direction would be well suited to a Limited Liability
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from its owners; it is an artificial being under the law. 2. What does the phrase limited liability mean in a corporate context? Limited liability refers to the amount of liability an owner has. The owner is only liable for the amount they invested in the corporation. 3. Which organizational forms give their owners limited liability? LLC and limited partners in a partnership have a limited liability. 4. What are the main advantages and disadvantages of organizing a firm as a corporation
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Perez wants to start a new business‚ but he is debating whether to start a S corporation or a C corporation due to potential environmental factors associated with his business. He wants to maintain a limited liability and wants to avoid double taxation by paying himself a salary equal to his companies before tax earnings. He also would like to issue preferred stock to his son in the future to keep his interests in the business. He was advised by his friend to choose a C Corporation to maintain maximum
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year of operation on every weekend of the year. 4. Achieve 20% return on investment (ROI). Ownership Music Connection will be a Limited Liability Company‚ owned by Ayshe Marie Osman Company Background Music Connection is a bar and grill establishment that is scheduled to begin operations on June 2013. Music Connection is going to be a Limited Liability Corporation‚ owned and operated by Ayshe Osman. Ms. Osman spent last 9 years of her life working various fields or businesses before realizing
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in when starting a business. Because the fees to obtain a business name and certificate are minimal a sole proprietorship is an inexpensive way to begin a business. An individual who prefers complete authority with the business decisions and is limited on funds a sole proprietorship is the ideal structure. The results are that the earnings are taxed only once and can be taxed as personal income. The disadvantages of the sole proprietorship structure are that the individual is liable for everything
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Faculty of Law and Management BSc (Hons) Finance-level 2 Course: Law of Association Submitted by: * Sadia Hajee ABDOULA (0810593) * Anju IMRITH (0811658) * Deeshti PURMESSUR (0811563) * Hanaa Wafiqua ANTOAROO (0811224) * M A Ata’Ullah AHSEEK (0813251) * Vimi SOOKUN (0812986) Date: 27 April 2010 [Type the document subtitle] [Pick the date] mk | cvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwe rtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopa
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