Limited liability partnership

statement 3 Insights from Nicors Inc mission statement: 3 QUESTION 8 5 Sole Proprietorship 5 Partnership 6 Corporations 6 Comparative Advantages 7 REFRENCES 8 INTRODUCTION This assignment will talk about the insights of Nicors Inc mission statement and what perception of the company do you get from its mission statement we will also see in question 8 the legal advantages of Sole proprietorship , partnerships…

Times reported Donald Trump may have paid no federal income tax for nearly two decades. Leaked excerpts of Trump’s 1995 tax returns showed huge losses that the real estate mogul could have used to offset other income and zero out his income tax liability for many years. Donald Trump may have paid no federal income tax for nearly two decades. The Times published one page from each of Trump’s 1995 New York, New Jersey and Connecticut personal tax returns in which Trump claimed a staggering $916…

practice on hairdressing in the salon. The other would just invest. Her business resources/assets include a building, equipment, accounts receivable and cash. Liabilities include a mortgage on the building and a few accounts payable, which are deductible when paid.…

Organizational Chart Job Description Executive Chef Culinary chef at the top of the hierarchy in a kitchen. They are responsible for ordering supplies, recipe and menu creation, accounting, staffing, and cooking. Executive chefs are usually mentors for other chefs and must maintain a professional demeanor. Sous Chef Culinary chef below the executive or head chef. They are responsible for planning and directing food preparation. Managing the kitchen staff, scheduling, and some administrative…

In this report I will clarify about two contrasted businesses that are different in their ownership, Liability, expenditure, scale, the sector they are operating, scope of activities and size. The two businesses that I am researching about are Tesco and Nike which I thought they are really contrasting to each other. Nike is the world's largest supplier and manufacturer of athletic shoes, apparel and other sports equipment whereas Tesco is a British multinational grocery and general merchandise…

Contemporary Health Care Issue Technology is one of the key elements for both for-profit organizations and nonprofit organizations in providing modernized medical services for the vast amount of populace in all the various geographic locations. At one time, the means of one doctor being able to consult with another doctor was by either sending messages or a messenger or by traveling to the other practitioner via stage coach or horse and buggy, depending on the geographic location. Today…

Introduction Creations by Gina Marie is a new store front retail and internet order based bakery that specializes in only gluten free items. It will offer a variety of cookies, cakes and cupcakes. What will separate my business from other bakeries will be my focused inclusion of gluten free options to our menu. Creations by Gina Marie will offer a store front retail for walk in customers as well as an internet site allowing for online ordering for gifts to be shipped across the country. For…

There are 5 basic structures to choose from: sole proprietorship, limited liability company (LLC), general partnership, C Corporation (Inc. or Ltd.), and sub chapter S Corporation (Inc. or Ltd.). (Kathleen, 2001) The sole proprietorship structure is usually owned by one person, it is a simple and inexpensive form of business. The business is…

1. The issue of auditor liability is detrimental to the profession and requires serious examination by regulators and lawmakers alike. Any one of the Big 4 could easily collapse should the full amount of any one of their lawsuits be awarded. Auditor liability becomes an even more poignant issue if new auditing standards are enacted that permit ranges of balances on the financial statements. This would highlight the inherent limitations of financial reporting. As a profession, we need to…

Disadvantages include being personally liable for the debts of the business, having limited funds since it comes from the owner’s own money, and not being investor friendly because of investors are hesitant to give money to a business with only one decision-making head. Similar to a sole proprietorship, a general partnership also only pays taxes once on its profits, filed under personal income for each partner. Partnership are easy to establish, and with the additional associates, decisions…