Capture in a table/matrix the similarities and differences between a private corporation and a cooperative.
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- Capture in a table/matrix the similarities and differences between a private corporation and a cooperative. Please give atleast 5 similarities and 5 differences.
- Which of the two will you suggest to an individual that intends to put up a business, and why? (atleast 5 senteces)
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- Refer to Chapter 11-1A, page 619: Characteristics of sole proprietorships, partnerships, and corporations Required The three primary types of business organization are proprietorship, partnership, and corporation. Each type has characteristics that distinguish it from the other types. In the left column of the following table write the name of the type of business organization that is most likely to possess the characteristic that is described in the right column of the table. The first item is shown as an example. Business Type Characteristic Proprietorship Owned and operated by a single individual Subject to double taxation Has a retained earnings account on its balance sheet One owner may be held personally liable for actions taken on behalf of the business by different owner Profits benefit a single individual Frequently uses legal agreements to define profit distribution for two or more owners Most highly regulated form of business The business dissolves with the death of its only…Kindly define the following - a. Partnershipb. Non- Profit Organizationc. Corporationd. Sole proprietorshipe. Cooperatives just provide short answers in each, ty!Use the internet to research one for-profit, one governmental, and one not-for-profit entity. For each entity, describe the following: A. the primary purpose of the entity B. the types of activities that accountants would record (hint: what is the source of the entitys funding, and what costs might the entity have?) C. the types of decisions that might be made in this organization and how financial and nonfinancial information might help the decision-making process
- TRUE OR FALSE 4. As a rule, cooperatives are allowed to establish their branch offices and cooperative satellite offices. 5. The establishment of cooperatives is of itself a shared endeavor between the public sector and the private sector. 6. Cooperatives are expected to undertake feasibility studies before they engage into business ventures.Answer the following questions on any piece of paper.1. What is a joint venture?2. Distinguish Joint venture from joint consortium and joint arrangement?3. How would you account for Joint venture?4. Can an individual enter into a joint venture with a corporation? how do you account for that?5. Distinguish partnership vs. joint venture6. Can an entity go into a joint arrangement with the government? how do you account for that?7. What is a Built Operate Transaction?8. If both big companies enter into a joint venture, will that signify unfair competition? explain briefly.9. Is there a limit to a number of corporation that can enter into a JV?10. What are the legal requirements to enter into a JV?11. Can a JV use equity method of accounting? how bout the share of net income of each individual corporation, how would you account for that?12. Can a foreign company and a domestic company enter into a JV? what are the requirements?13. How would you report in case a JV entered into by a foreign…Question based on the picture attached. (a) Explain any three (3) differences between maximising profits and maximising shareholders’ wealth. Justify which one should be the goal of a company. (b) Explain any three (3) costs and benefits of partnerships/proprietorships as compared to corporation. Give your opinion which type of organizational structure is preferable.
- The principle of equity I. Is the principle behind a cooperative s interest on share capital Il. Is one which states that net surplus is not a profit but as excess of payments made by the members for the Loans borrowed, or the goods and services bought by them from the cooperative and Ill. Is one where an equal right of members to participate in the organization and to equitably share in the benefits accruing is established. A. I, II and IIIB. I and IIIC. I and IID. I onlyQ: Compare the characteristics of organizational and legal forms of enterprises: Criteria The organizational and legal form Individual entrepreneur Economic partnership (LLC) Economic society (JSC) Simplicity of the creation Control over the activities Liability of the owners Investment Liquidity* Period of existenceCompare and contrast the forms of business organization. Sole/Single Proprietorship Partnership Corporation Cooperatives
- Based on the advantages and disadvantages of each of the following forms of businesses, give an example of a business that would be best suited to that particular form. Be sure to explain why that is the best option for the particular business. (1) Sole proprietorship (2) Limited partnership (3) Corporation (4) Limited Liability CompanyIn each case below, I have given a goal that a business might have. What you need to do is to indicate for each whether the goal can better be achieved if the business is organized as a sole proprietorship or as a corporation. goal: to minimize taxes on profits of the business goal: the ability to freely transfer ownership interests in the businessNOTE: ANSWER ALL WITH TRUE OR FALSE 2. A corporation can be general partner in a partnership.3. A public corporation is one formed for the government of a portion f the state. 4. All incorporators are subscribers but a subscriber need not be an incorporators.5. A partnership can be corporator in a corporation.6. A shareholder in a corporation does not have the right to transact corporate businessor to intervene in the management of the business.7. A corporation can come into existence by mere agreement of the parties as in the caseof partnerships.8. Eleemosynary corporations are those organized for public charity.9. Shares of stock cannot be transferred without the consent of the other shareholders.10. Shareholders may be natural or juridical persons.11. Death of s shareholder will dissolve the corporation.12. A de jure corporation is a corporation existing in fact and in law.13. Shares without par may be issued for a consideration less than P5.00 per share.14. A corporation may be an…
