w does a company obtain LLC status?

Q: Which of the following business organization is owned by two or more persons? O a. Company O b. Sole…

A: Following is the answer to the given question

Q: What are the advantages if any of being a privately held company?

A: A privately held company is a company which is not controlled by Government. These are companies…

Q: A company that is controlled by another corporation is called a Select one: O a. Limited liability…

A: Introduction: Limited liability: When the business in to losses , the liability of the members is…

Q: Which type of business organization is owned by only one owner? a. Corporation b. Partnership c.…

A: Sole proprietorship: The form of business entity which is owned and managed by an individual is…

Q: Introduction of private company?

A: Company whose shares are not publicly traded in the open market.

Q: what is the difference between a sole trader , pafrtenership and a company . explain

A: Sole proprietorship in easy words could be a one-person business organization. moreover, a sole…

Q: What's a limited liability company and give one advantage and disadvantage

A: A limited liability company is a separate legal entity from their owner and it has their own common…

Q: Explain the reasons for preparing and providing a shareholder agreement.

A: The shareholder agreement is the agreement between the shareholders and the board of the company. In…

Q: Define Limited liability company.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: can an LLC be a shareholder in an S corp? please provide proof

A: Investors are given shares of stock by a corporation, which signifies ownership in a company. One of…

Q: what are the advantages of an LLC versus operating as a C Corporation, and  S Corporation

A: A limited liability Company (LLC) is a business structure for private companies in the US. It…

Q: Document analysis of sole proprietorship

A: The business can be run in any form like sole proprietorship, partnership firm, or a company. To…

Q: What are fhe basic rights of a shareholder?

A: A shareholder has the following basic rights:  (1) A shareholder has a right to attend, and vote…

Q: Describe the sources of shareholder’s equity.

A: Stockholders’ equity or shareholder's equity:  The claims of owners on a company’s resources, after…

Q: sole proprietorship is the current business structure, what are the benefits and drawbacks of an…

A: Answer: LLC is limited liability company. The benefits of LLC are: 1. LLC is easy to setup and run…

Q: What expense do corporations incur that sole proprietorships and partnerships do not?

A: The sole proprietorship and partnerships  will be explained:

Q: Explain Limited Liability Companies?

A: INTRODUCTION:- A limited liability company (LLC) is a business structure for private companies in…

Q: How it's GAAP and IFRS is suitable for Corporate Entities ?

A: The primary difference between the two systems is that GAAP can be called rules-based whereas IFRS…

Q: any (LLC)? A. Complex

A: To explain the feature of LLC as,

Q: What is limited liability corporation (LLC)?

A: A corporation is an entity which is distinct from its owners. A corporation acts as a legal person.…

Q: How is a contingent liability accounting for in a business combination by the acquirer under IFRS…

A: Contingent liabilities are those liabilities which has probability of chance to become a liability…

Q: In which financial statement will drawing of a sole proprietorship be found

A: Drawings are defined as withdrawals from a sole proprietorship's business assets by the owner for…

Q: The Operating Agreement in an LLC has more or less the same function as Bylaws in a Corporation...…

A: The answer is TRUE

Q: What are the tax advantages and disadvantages of converting a C Corporation into an LLC?

A: GIVEN   the tax advantages and disadvantages of converting a C Corporation into an LLC

Q: Which type of business structure requires that all shareholders be licensed? Question 1 options: a)…

A: A corporation is a separate legal entity created under the eyes of the law, i.e., a formal…

Q: What type of companies should consider an LLC its form of ownership?

A: Limited liability companies may be the most kinds of companies. A joint relationship, such as a law…

Q: How are profits and losses allocated to LLC members?

A: LLC means Limited Liability Company, which is a private company with a combination of partnership…

Q: Explain Sole Proprietorships?

A:

Q: What is an operating agreement for an LLC?

A: ANSWER   To form a business entity as a Limited Liability Company (LLC), the business owners are…

Q: How to register Sole Proprietorship in BIR and DTI?

A: Sole proprietorship is the form  which is managed, controlled and owned through single person  and…

Q: List and explain shareholder rights

A: Shareholder's rights refers to the mix of rights which a shareholder in lieu to total number of…

Q: What are the advantages of Limited Liability Company?

A: Limited-liability Company (LLC): The form of business entity which is unincorporated, but functions…

Q: What are the categories of shareholder's equity?

A: Shareholders Equity means total amount belonging to the shareholders of the business. It means…

Q: Sole proprietorships or corporations: who would you choose to do business with? Why

A: The Answer

Q: Which of the following organization forms accounts for the greatest number of firms? O A. Limited…

A: The businesses are established to earn income. The business can be in any form like partnership,…

Q: what are the advantages of an LLC versus operating as a sole proprietorship,

A: Advantages of LLC over Operating a sole proprietorship:: Limited liability is one of the advantage…

Q: Are the stockholders of a corporation are considered as residual claimant of the business…

A: A shareholder, often called a stockholder, is a person, organization, or institution that owns at…

Q: what is sole proprietorship

A: Sole proprietorship: Sole proprietorship is the simple form of business and owner is an individual.…

Q: What are the necessary steps to be taken in order to form an LLC in state of Ohio

A: Limited Liability Company (LLC) is a business structure in which the owners are not personally…

Q: Candlewood LLC started business on December 1, and it adopted a calendar tax year. During the year,…

A: Startup costs are the expenses incurred while starting a new business. Startup costs are bifurcated…

Q: What is the Ownership rights held by common shareholders?

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: 1) What is One Person Corporation?  2) How to register Sole Proprietorship in BIR and DTI?

A: Answer: Concept: Corporation is the organization formed with group of people who work together to…