Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Explain the differences between a general
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- describe a general partnership business venture that would be interested in becoming involved in. Indicate what would be certain to include in a written partnership agreement. Be specific as to how it would share profits and losses.arrow_forwardDiscuss the various duties, responsibilities, and liabilities of the Principal-Agent (employer-employee) relationship.arrow_forwardDiscuss the powers and duties of Directors and Company Secretaryarrow_forward
- Compare the advantages and disadvantages of the corporation versus the partnershiparrow_forwardOn January 1, Oriole Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 Issued 29,500 additional shares of common stock for $19 per share. June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 1,000 additional shares of common stock for $18 per share. 15 Declared a cash dividend on outstanding shares of $4.90 per share to stockholders of record on December 31. (a) Prepare the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)arrow_forward1. Explain the all the forms of and the advantages and disadvantages of each form of business. Define each form of business, sole proprietor, partnership, LLC, LP, and Corp. Next for each form of business explain the advantage and disadvantage of that particular form of business, comparing that form to the other types discussed. 2. Explain which form you would want to use for your business. o Explain why.arrow_forward
- Describe the differences between a sole proprietorship, a partnership, and a corporation as business entities, including their advantages and disadvantages from a legal perspective.arrow_forwardIdentify five reasons why a partnership may be dissolved.arrow_forwardDo corporate shareholders have an obligation to make certain that their business corporation acts in an ethical and proper manner in conducting businessarrow_forward
- Who has the right to elect the Board of Directors? a. The common shareholders b. The preferred shareholders c. The officers of the corporation d. All shareholdersarrow_forwardWhy might an investor choose to become a partner in alimited partnership instead of purchasing the stock of anopen corporation?arrow_forwardConclude by stating the benefits and drawbacks of using Artical of association and its usefulness(if any) to govern the operations of a company.arrow_forward
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