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Define private limited liability business with appropriate examples. Briefly explain
three main characteristics of a private limited liability business?
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- Define public limited liability business with appropriate examples. Briefly explain three main characteristics of a public limited liability business?The factor is the financial resources needed to start and expand a business. Decide whether this factor is a cost or benefit to a sole proprietor, a partnership and a corporation, and give a brief explanation for your answer. Sole proprietor: Partnership: Corporation:Define sole trader business with appropriate examples. Briefly explain three main characteristics of a sole trader business?
- describe the various legal entities available to an entrepreneur when starting a business. These can be classified in two groups based on how income is taxed and availability of limited liability protection. 1What is the concept of double taxation of income, and which entities can avoid this double taxation? 2What is the concept of legal liability protection, and which legal entities are entitled to that protection?The New Hybrid Varieties of Business Types that have emerged are: A. Unlimited Partnership, R Corporations, and Unlimited Liability Companies B. Limited Partnership, S Corporations, and Limited Liability Companies C. Partnerships, T Corporations, Liability Companies D. L Partnerships, W Corporations, and Limited Liability Companies E. All of the aboveDescribe the characteristics of a limited liability partnership.
- Define partnership with appropriate examples. Briefly explain three main characteristics of a partnership business?for each type of business option (sole proprietorship, partnership, LLC, Corporation) create an analysis that compares each type of business option. Define each type of business. Remember to include ease of formation, liability, tax implications, control of the corporation, and any other important differences. Sole proprietorship Partnership LLC Corporation Ease of formation Liability Tax implications Control of the business Other important differencesList advantages of a limited liability company
- What are the main differences between private limited company and public limited company?The Smith family has a very successful family tea shop that also provides wireless Internet access and live entertainment. They believe that there is a great deal of growth opportunity in such tea shops and plan to eventually expand. After meeting with their lawyers and accountants, they realize they need to change their business structure to either a corporation or a limited liability company. They understand that both have limited personal liability. Using the information in your text regarding the advantages and disadvantages of each, make a recommendation as to which you would recommend to the Smiths. Provide at least three reasons for your recommendation. Be prepared to defend your point of view. I recommend that the Smiths form a ________________. corporation limited-liability company The rationale for your recommendation is as follows: (Explain your 3 reasons )The Smith family has a very successful family tea shop that also provides wireless Internet access and live entertainment. They believe that there is a great deal of growth opportunity in such tea shops and plan to eventually expand. After meeting with their lawyers and accountants, they realize they need to change their business structure to either a corporation or a limited liability company. They understand that both have limited personal liability. Using the information in your text regarding the advantages and disadvantages of each, make a recommendation as to which you would recommend to the Smiths. Provide at least three reasons for your recommendation. Be prepared to defend your point of view.