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FinnZ [79.3K]
2 years ago
14

Question 6 write an essay on the forms of ownership​

Business
2 answers:
Ne4ueva [31]2 years ago
3 0

Answer:

huh?no one's got time to write an essay for you

hjlf2 years ago
3 0
Forms of Ownership

A majority of people aspire to own their businesses or partner with their friends and families to open a business. Like in all other instances, having the right information is always an advantage especially if one is planning to venture into something which is new to them. In business, therefore, it is essential to first of all understand the options one has especially when it comes to the legal structure of ownership. Having an understanding of the forms of ownership one is allowed under the law is necessary and will help in the final decision one makes. Many people often ignore some of the simple instructions or pieces of advice they find. The results for such often include regret and run-ins with the law. Therefore, to avoid extra costs while setting up a startup, one needs to have a deep understanding of the following options of ownership:

Sole Proprietorship
When people think of starting their own businesses, a majority think of venturing out on their own. At first, people prefer to walk alone and invest all their savings in an idea. When people start businesses by themselves it is called a sole proprietorship. In such a situation, a person is considered one with the business. This means that a person owns all the business’s assets as well as all the generated profits. Moreover, one is also considered responsible for all the debts and liabilities associated with the business.

People prefer sole proprietorship because they are the least expensive to start as well as organize. Additionally, one does not have to share the profits and oversees all the operations of the business. However, it is important to note that they lack limited liability which means that any losses directly affect the owner. The above means that one’s personal property could be at risk if the business defaults in payment of certain debts.

Partnerships
Unlike sole proprietorships, partnerships involve instances where several people share ownership of a business. However, like sole proprietorships the business is considered one with the owners. In a partnership, there is always a written legal document that outlines how the profits and losses will be distributed, decisions will be made in the business, impasses will be resolved, and also how the business will admit other partners in the future. Partnerships tend to be a lot stronger than sole proprietorships because the losses are shared which would mean that the weight is distributed and no single person bears a heavier burden than the other.

Corporations
Corporations are set up differently and unlike partnerships and sole proprietorships, they are viewed as separate entities from their owners. As witnessed in a number of occasions, corporations can be sued, enter into different contractual agreements, and they can also be taxed. Owners of a corporation are known as shareholders and the often select directors and managers who oversee the corporation on their behalf. The ownership of a corporation changes from time to time without affecting the state or workings of a corporation.

Limited Liability Company
Though previously non-existent, a Limited Liability Company combines the tax efficiencies and operative flexibility of partnerships and the limited liability attributes of corporations. However, while forming an LLC, the process is quite formal and mainly encompasses a lot more details including the duration of the LLC.

In conclusion, understanding these different forms of ownership is essential and would help one in deciding which business venture to pursue.
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Currently, the leadership trend is to empower employees. When a leader empowers employees, that leader is giving them: Multiple
Anni [7]

As much freedom as possible to become self-directed and self-motivated is When a leader empowers employees, that leader is giving them.

<h3>What is the advantage of the self-motivated employees?</h3>

Self-motivate employees are the best performer in the organization as they are highly charged and devoted towards the company, so they tried to give their best in every aspect. They are more loyal towards their leaders as they both have trust relationship between each other.

Thus, option C is correct.

For further details about advantage of the self-motivated employees, click here:

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8 0
2 years ago
Jmes Graham Manufacturing is a small manufacturer that uses machine-hours as its
IgorLugansk [536]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Company - Job 62 - Job 63

Direct materials: $60,000 - $4,500 - $7,100

Direct labor: $25,000 - $2,500 - $4,200

overhead costs $72,000

Machine hours: 90,000 - 1,350 - 3,100

During 2019, the actual machine-hours totaled 95,000, and actual overhead costs were $71,000. Job 62 consisting of 1,000 units and Job 63 consisting of 2000 units were completed during the month.

A) To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 72,000/90,000

Estimated manufacturing overhead rate=  0.8 per machine-hour

B) Total manufacturing cost= direct material + direct labor + allocated overhead

Job 62:

Total manufacturing cost= 4,500 + 2,500 + 0.8*1,350

Total manufacturing cost= $8,080

Job 63:

Total manufacturing cost= 7,100 + 4,200 + 0.8*3,100

Total manufacturing cost= $13,780

C) Unitary cost= total cost/ number of units

Job 62:

Unitary cost= 8,080/1,000= $8.08

Job 63:

Unitary cost= 13,780/2,000= $6.89

D) First, we need to apply overhead for the company as a whole:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 0.8*95,000

Allocated MOH= $76,000

Now, we can calculate the over/under applied overhead:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 71,000 - 76,000

Overapplied overhead= $5,000

E) Job 62= 14,000

Job 63= 18,000

Gross profit= sales - cost of goods sold

Job 62:

Gross profit= 14,000 - 8,080= $5,920

Job 63:

Gross profit= 18,000 - 13,780= $4,220

7 0
3 years ago
Were all loan proceeds used to purchase, build, or improve the home secured by this loan?.
8_murik_8 [283]

A loan is usually gotten from a financial institution to solve a financial emergency which was unplanned for.

<h3>What is a Loan?</h3>

This refers to the obtaining of money from a financial institution and a formal agreement is made for the repayment of the money after a given period of time and with interest.

With this in mind, we can see that loan proceeds can be used to:

  • Buy a house
  • Go on a trip, etc

Please note that your question is incomplete so I gave you a general overview to help you get better understanding of the concept.

Read more about loans ere:

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7 0
2 years ago
In 2014 the average cost of a four year college is $26,017. How much is a four year college expected to cost in 2034 based on 7%
Oksana_A [137]

Answer:

i think the answer is $27,350

Explanation:

i hope it help

6 0
3 years ago
An agent's customer says that ABC Corporation is about to be bought out. The customer wishes to place an order to buy ABC common
tankabanditka [31]

Answer:

Explanation:

In this specific scenario, the best thing for the agent to do would be to bring the information to the attention of the firm's supervisory principal named to handle such matters in a Supervisory Procedures Manual. That is because inside information or insider trading is illegal and even though it does not need to be reported to the state securities Administrator, it should still be handled by the firm's supervisory principal in order for it to be handled correctly so that the firm does not get into trouble.

3 0
3 years ago
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