• LIABILITIES – If the business incurs debt that can not be covered by the profit of the business the owner will be personally liable. You can be sued to satisfy the debt of the company and your personal property can be seized to satisfy company debts. • INCOME TAXES – Forming a Sole Proprietorship allows the owner to avoid the high tax rate that corporations pay due to it not being separate from the individual. • LONGEVITY/CONTINUITY – The business is the same as the owner so the business will
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Memorandum To: Owner From: RE: Business Type Date: October 8th‚ 2012 Changing the type of business structure is not a small consideration. You have operated for years as a Sole Proprietorship‚ but it appears that you have outgrown that particular business type and may benefit from changing to a different type of business. Based upon our previous conversation‚ I will summarize my interpretation of your business concerns in the bullets below: • Liability. You are concerned
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LUT1 Task 2 Situation A: In 1993‚ the FMLA act‚ which serves the needs of families trying to balance work life and the needs of the families their working for‚ was established. This act was amended on October 8th‚ 2009 to extend entitlement rights of military caregivers. The FMLA entitles eligible employees the ability to take off up to 12 weeks of unpaid time off within a 12-month period with the benefit of job protection upon returning to the company. The time off is subject to specific
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I have chosen one of my tasks I performed in my portfolio because I believe that it is very important. The task I do is to file folders‚ get folders for the next day‚ and look at what’s written for my future benefit. The reason why it’s important to do this is because it’s all the clients information stored in. If I misplaced it or lose it‚ the dentist or hygienists won’t recall what they did to the patient last time they had visited. Not only that my supervisor would get anger at me‚ the client
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Network security fundies Wk 5 bsa310 Introduction The Essence of Network Security: * Allow everything to be accessible and secure at the same time. What exactly does this mean? It means that all your local and network resources need to be made accessible all the time‚ but to only the right people. It is the second part of this statement that causes difficulty. Most administrators have no problem making the resources available‚ but the issue of "to only the right people" is where the
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Task 1 legislation Human Rights Act Human rights are rights and freedoms that belong to all individuals regardless of their nationality and citizenship. They are also important in maintaining a fair and civilized society. The European Convention on Human Rights (ECHR) was drafted by the nations of the Council of Europe (including the UK) in the aftermath of World War II. In October 2000‚ The Human Rights Act came into effect in the UK. This meant that people in the UK can defend their rights in
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ACCOUNTING 226 TEST 1 CH 11-13 NAME DATE ______________________________________ __________ MULTIPLE CHOICE 1.. Companies should ONLY produce and sell units as long as c. the revenue from an additional unit exceeds the cost of producing it. 2. Too high a price may a. deter a customer from purchasing a product. 3. Companies must ALWAYS examine pricing c. through the eyes
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1 Part A Sole Proprietorship A sole proprietorship is a form of business that is owned by a single individual. • Liability – Due to the lack of legal distinction between the owner and the business‚ the owner is fully responsible and liable for all debts that the business incurs in the same manner that an individual is fully responsible and liable for all debts that they incur. There is no legal distinction between the assets of the owner of the sole proprietorship and the business; this
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Galina Goncharova Professor Pak IS 310 Software and Hardware Concepts Assignment 2 Chapter 1 August 31‚ 2012 Vocabulary Exercises 1. Students of information systems generally focus on application software. Students of computer science generally focus on system software. 2. Configuring hardware and system software is an activity of UP (Unified Process) deployment discipline. 3. IS students and professionals should be familiar with professional societies‚ such as Association for
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ACC 310 Entire Course Week 1-5 ( Latest ) To Buy this Class Copy & paste below link in your Brower http://assignmentspoint.com/downloads/acc-310-entire-course-week-1-5-latest/ ACC 310 Week 1 DQ 1 Information for Decision Making and Cost Concepts and Behavior Complete Exercise 1-18 and 2-19. Remember to complete all parts of the problems and report the results of your analysis. Do not forget to show the necessary steps and explain how your attained that outcome. Respond to at least two of
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