Business Entities‚ Laws‚ and Regulations Paper BUS/415 March 5‚ 2012 Beth Shankle-Anderson There are different scenarios with three different forms of entities that require taking control‚ taxation‚ and possible liability issues into account. These considerations will not only serve to ensure compliance is met but also so that each establishment is protected. In the first scenario Lou and Jose plan to open a restaurant/sports bar‚ the issue is that they have not accumulated of the money‚
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Business Entities‚ Laws‚ and Regulations Paper Greg Celentano BUS/415 – Business Law Teresa Anderson June 13‚ 2011 Business Entities‚ Laws‚ and Regulations Paper This paper will examine two business scenarios and determine which business entity is the best choice for each business after taking in to consideration control‚ taxation‚ and liability issues. In addition laws and regulations each business must consider in starting the business will be identified along with the risks that each
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forms of entity‚ it is usually not governed by special laws. A proprietorship is a type of business entity which legally has no separate existence from its owner. Hence‚ the limitations of liability enjoyed by a corporation and limited liability partnerships do not apply to sole proprietors. All debts of the business are debts of the owner. The single proprietor has unlimited liability since creditors of his business may proceed not only against the assets and properties of his business but also
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How to choose the right type of Business form LAW/531 How to choose the right type of Business form Today’s business world has many choices for the new entrepreneur to decide from when forming a business. The choices are sole proprietorship‚ partnership‚ limited liability partnership‚ a limited liability company‚ a S corporation‚ a franchise‚ and a corporate form. Development of scenarios portraying each of these forms of business will aid the entrepreneur with deciding which form will
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TYPES AND FORMS OF BUSINESS ORGANIZATION A business organization is frequently referred to as a business entity. A business entity is any business organization that exists as an economic unit. Business entities can be grouped according to the type of business activity they perform. 1. Service companies perform services for a fee. This group includes companies such as accounting firms‚ law firms‚ repair shops‚ and many others. 2. Merchandising companies purchase goods that are ready for
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Types and Forms of Business Organization There are millions of successful businesses around the world. One common trait all these businesses is that they have some sort of organization. But “What is Organization?” – it is the first topic I would like to speak. Then I will tell you about “Structure of an Organization”. After that we consider the “Types and Forms of Business Organization” and the variety of “The Names of Companies” (plc‚ Ltd‚ etc.) and‚ finally‚ I will tell some words about “International
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Week 3 Discussion 1 Partnership Entity * Determine the key factors to be considered when deciding on forming a partnership. Factors to be considered when deciding on forming a partnership are: what type of business‚ type of company (DBA‚ LLC‚ LLP‚ Partnership‚ Sole prop)‚ what kind of products‚ cost of starting‚ financing‚ Investors‚ taxes‚ your location‚ your market region‚ what’s your market clientele. Some other personal factors may include having common interests or concerns‚ understanding
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Question Advice the directors of Finance Pty Ltd that their chances of success in successfully claiming the tax deduction for the bad debt arising from the failed business project undertaken by Iron Ore Ltd. The Finance Pty Ltd comes within the definition of “subsidiary” in s 46 of the Corporations Act 2001. Firstly‚ Iron Ore Ltd‚ as the parent company‚ controls the composition of the first body’s board: the five directors of the Finance Pty Ltd are come from the Board of the Iron Ore Ltd; therefore
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and it is now to be applied to all types of entities that are required to prepare financial reports by the Corporations Act 2011‚ the General Government Sector (GGS) and entities in the for-profit or not-for-profit private or public sectors that are reporting entities. However when the first standards came out it was applied to for-profit organisations only. Today‚ most standards still focus on business entities that make government and not-for-profit entities unable to meaningfully apply the same
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Separate Entity Concept. It is an accounting Concept which considers a business separately from it’s owner. For example‚ if you (a business owner) will purchase an asset for your personal use‚ that asset will not be the property of the business. So‚ that means that I should separately record all business transaction from it’s owner personal transactions. Overwise‚ there is possibility that the transactions will mix up. Also I have to say‚ that you can not draw funds from your business without recording
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