[NAME] FIN534 – Financial Management 21 Oct 2012 1. Which of the following statements is CORRECT? a. One of the disadvantages of a sole proprietorship is that the proprietor is exposed to unlimited liability. b. It is generally easier to transfer one’s ownership interest in a partnership than in a corporation. c. One of the advantages of the corporate form of organization is that it avoids double taxation. d. One of the advantages of a corporation from a social standpoint is that
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the Project Re-fuel station is consigned to offer the kind of gas which is suitable and demandable by each customer who owns not only for vehicle owners but for everyone who owns refillable gas equipment. The business is sole proprietorship with one employee and it is projecting to start its operation on January 1 2015. The initial capital needed would be Php 1‚ 700‚ 000.00 which will be provided from the owner. D. Summary of Findings 1. Management Feasibility
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like licences; you may need a minimum of a business licence and tax registration to start up a business‚ but it depends on what sector you are operating in. To start up a business you need to categorise yourself into one of these ownerships‚ a sole proprietorship (A business owned and managed by a single person)‚ a partnership (A business
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reality during the implementation stage? Student Answer: Capital/money Commitment Management expertise A college education Comments: 5. Question : (TCO 1) The single biggest disadvantage of sole proprietorships is which of the following? Student Answer: Limited resources Limited skills Unlimited liability Double taxation
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milk which is a good source of calcium it is nutritious yet affordable. The future product will be Fishy Yummy Yema also it has the mixture of fish. The business is registered at Securities and Exchange Commission (SEC) under Sole- Proprietorship. Sole Proprietorship is a type of business enetity that is owned and run by a single person. MILKYRON is manage by Nikki Y Pulumbarit as the general manager and Jessa P Alberto as the Assistant Manager. Product manager will be Nikki Y Pulumbarit responsible
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Exam 1. (TCO A) Which of the following statements is CORRECT? (Points : 10) It is generally more expensive to form a proprietorship than a corporation because‚ with a proprietorship‚ extensive legal documents are required. Corporations face fewer regulations than sole proprietorships. One disadvantage of operating a business as a sole proprietorship is that the firm is subject to double taxation‚ at both the firm level and the owner level. One advantage of forming
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quantities each day with really low absolute amount earned for each transactions and low profit margin. Painful for them since Octopus charges handling charge for each transactions ) It’s possible. 3.Long term goal (over 5-10 years) Mainly sole proprietorship and partnership‚ the business may relatively last shorter than operations. Any family changes or health problem of the owner(s) may affect and even stop the continue running of the business‚ thus long term goal may not developed. Octopus card
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Case Study Summary: There are various advantages and disadvantages of a sole proprietorship business. A sole proprietorship business may be run by family members and this can have a tremendous opportunity or a nightmare. Some families share success‚ challenge and opportunity in such business. Other families split apart and don’t even want to talk to each other. To improve relationships among family members we can establish a group like SOB which will offer a set of practical guidelines and
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is important that the business owner seriously considers the different forms of business organization—types such as sole proprietorship‚ partnership‚ and corporation. The vast majority of small businesses start out as sole proprietorships. These firms are owned by one person‚ usually the individual who has day-to-day responsibility for running the business. Sole proprietorships own all the assets of the business and the profits generated by it. They also assume complete responsibility for any
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: Acctg. 1 V. Course Description: This is a continuation of the first course in accounting. It deals with transactions‚ financial statements‚ and problems peculiar to the operations of partnership and corporations as distinguished from sole proprietorships. Topics include: partnership formation and operations including accounting for the admission of partners‚ changes in capital‚ and profit-and loss sharing ratios‚ the conversion of an unincorporated enterprise into a corporation; accounting
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