Hello! I have to fill in this comparison table between three types of enterprises. I filled in the parts of LLC an JSC, and I need to fill in the individual entrepreneur characteristics. please let me know if there are any mistakes in the parts I filled in. Thanks a lot! InvestmentLiquidity*Transfer of shares mustbe decided by thegeneral board andvotes, otherwise agreed requirements like theby the article ofA share transfer doesnot requireLLC's.incorporation.Period of existenceInfinite (until windingup)Infinite (until windingup) CriteriaThe organizational and legal formEconomicpartnershipIndividualEconomic societyentrepreneur(JSC)(LLC)Simplicity of theCreationsimplicity in creationrequires moreand documentation anddocumentations andcarrying out operationsof the company.геcords.Conorol over theaccivitiesHas no limitednumber. It usuallyHas a limited number ofcontrolled by a boardof directors.shareholders, and oneor more should beappointed as a papaKRSALiability of the- shareholders: liability- shares are jointlyis proportional to theirand severally liableowneTscapital contributionfor taxes, charges.- founder: liability islimited to the capital- founder: liability islimited to the capitalcontributed to thecontributed to theCompanyCompany

Individual Entrepreneurship is type of business operation where the entire business is owned and…

Hello! I have to fill in this comparison table between three types of enterprises. I filled in the parts of LLC an JSC, and I need to fill in the individual entrepreneur characteristics. please let me know if there are any mistakes in the parts I filled in. Thanks a lot!

Hello! I have to fill in this comparison table between three types of enterprises. I filled in the parts of LLC an JSC, and I need to fill in the individual entrepreneur characteristics. please let me know if there are any mistakes in the parts I filled in. Thanks a lot!

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter17: Corporations: Introduction And Operating Rules

Section: Chapter Questions

Problem 12DQ

See similar textbooks

Similar questions

aims to identify, record, and communicate information about business activities. It helps assess opportunities, products, investments, and social and community responsibilities. Users of accounting are both internal and external. Some users and uses of accounting include (a) managers in controlling, monitoring, and planning; (b) lenders for measuring the risk and return of loans; (c) shareholders for assessing the return and risk of stock; and (d) employees for judging employment opportunities. Opportunities in accounting include financial, managerial, and tax accounting. Csuterstack/Fory burrow OGlow Asia/Saperstock 130s :00/ 0:58 1x CC Knowledge Check 01 Match the term and the definition. Definition The recording of transactions and events only, either manually or electronically. An information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities.
{Auditing} 9. Materiality refers to the potential impact of the information on the user’s decision-making relating to the entity’s financial statements or report. From the options enunciated here under identify the external user of financial information. a. Shareholders b. Owners c. Creditors d. Board of Directors
1. Explain the regulatory framework that governsfinancial reportinginAustraliawithemphasisontheConceptual Framework for financialreporting3.Applyaccountingprinciplesandstandardswhenaccounting for non-current assets, revenue and liabilitiesand recognise the judgements required in a range ofdiverse business contexts5. Differentiate between shares and debentures andapply appropriate accountingprocedures
a).Financialinformationhavedifferentgroupofusers.Mentionanysix(6)groupsoffinancialinformationusersandbrieflyoutlinetheirinformationneeds.b).EnterthefollowingtransactionsinageneraljournalforthemonthofJuly20191stStartedbusinesswith¢9,750cash2ndReceivedaloanof¢12,000fromBarnesbycheque3rdBoughtacomputerforcash¢6,0005thBoughtacameraoncreditfromKodakltd¢4.0208thTook¢2,000outofthebankandputitinthecashtill15thPaidpartofBarnes’sloanbycheque¢5,00017thPaidKodakLtd¢4,020bycheque24thFinalpaymentofBarnes’sloanbycash31stBoughtaprinteroncreditfromF.Jones¢2,550
Match each of the financial statement theory and concepts with the statement that best describes them Maximize shareholder wealth Corporate Governance financial securities _____ 1. Tradable promises of future payments issued by government and companies _____ 2. The set of rules that control companies’ behaviour towards its directors, managers, employees, shareholders, creditors, customers, competitors, and community _____ 3. It’s required to mitigate the agency problem (information asymmetry and moral hazard) within the firm _____ 4. It is the primary (main) objective of the firm _____ 5. It consists of debt instruments and equity instruments
Conceptual Framework and Reporting Standard: Small and Medium Sized Enterprise 1. The PFRS for SMEs requires that entity’s financial statements should be prepared using an accrual basis of accounting. True of False? 2.The PFRS for SMEs states that the objective of financial statements is to provide information about the financial position, performance and cash flows of the entity that is useful for economic decision-making by a broad range of users who are not in a position to demand reports tailored to meet their particular information needs. True or False? 3. The PFRS for SMEs allows offsetting in assets and liabilities, or income and expenses. True or False?
Governance issues include the following except; Select one: O a. Rights and treatment of shareholders b. Role of stockholders O c. Responsibilities of the board O d. Disclosure and transparency
Question 1 (i) Examples of economic stakeholders areA. customers, suppliers, banks and other debt holdersB. the board membersC. shareholders and employeesD. Any stakeholder who has a direct or indirect stake in the company (ii) The board of directors isA. The only governance mechanism in an organisationB. Only a fiction according to the managerial definition of corporate governanceC. Have the power to monitor managerial opportunism onlyD. The main principal in an agency relationship (iii) Stakeholders areA. only those who have contributed something that is at risk with the firmB. only actors who have a legitimate stake in the corporationC. all the actors who may be influenced or who may influence a corporationD. None of the above (iv) Which ONE of the following would not be described as an institutional investor?A. BanksB. Pension fundsC. Insurance companiesD. Employees holding shares through an employee share scheme
Corporate responsibility refers to fulfilling the responsibility or the obligation that a company has toward its ----------------------------------? a. Stock holders only b. Owners only c. All of the Stakeholders d. Government only
Q: 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 existence
Please answer all 3 subparts Question 1 (i) Which one of the following is not a right of a shareholder?A. To receive a dividend declared by the companyB. To attend and vote a meetingsC. To receive the company's accountsD. To manage company affairs (ii) From which theoretical perspective would disclosure and transparency be best explained?A. Managerial hegemony theoryB. Stakeholder theoryC. Resource dependence theoryD. Agency theory (iii) Which of the following will NOT be a likely ground to blow the whistle?A. When there are serious breaches of company rules and regulationsB. When somebody feels personally aggrievedC. When there are threats to human safetyD. When there are serious concerns about a possible fraud
Setting accounting standards by the private sector is Select one: a. Common law accounting O b. Independent discipline approach O c. Microeconomic approach O d. Code law accounting