Assignment on Business Structure

Added on - 22 Nov 2020

  • 10

    Pages

  • 3250

    Words

  • 12

    Views

  • 0

    Downloads

Trusted by +2 million users,
1000+ happy students everyday
Showing pages 1 to 3 of 10 pages
CORPORATIONS OFBUSINESS STRUCTURES
Table of ContentsINTRODUCTION...........................................................................................................................1PART A...........................................................................................................................................1Business structures and comparison of administrative costs and burdens.............................1PART B...........................................................................................................................................3Comparison of the liability of the individuals and the liability of the partners......................3PART C3..........................................................................................................................................4Duties owned by partners and duties owned by directors......................................................4CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONIt is important for Business to have appropriate structure in order to achieve better growthand success. The below report explores the legal structures of businesses. It is important for abusiness to have an appropriate legal structure in place, in order to achieve set growth anddevelopment. The reports highlight three main legal structures of a business which are soletraders, partnerships and propriety companies1. It explains the advantages and disadvantages ofthese legal structures and what role they play within a business. Along with it, the reportcompares the liability of the partners and the liability of the individuals working under thesestructures.PART ABusiness structures and comparison of administrative costs and burdensIt is important for a business to have appropriate structure in place. It affects how much acompany pay in taxes and its ability to raise money. The paperwork required in the file and thepersonal liability. Below mentioned are the important business structures:Sole proprietorship:A sole proprietorship is one of the easiest form and providescomplete control of the business to its owners.A business is automatically considered assole proprietorship if the business activities are being done by a single person. Only asingle person is held personally liable for the sole proprietorship business. In order toachieve better growth and results, the sole trader is the only person responsible for this.The administrative costs of the sole proprietorship includes the salaries of the individualsworking for the company. These salaries are provided from the profits earned by thecompany2. The other administrative costs includes expenses required by the businessoperations. These costs are the important ones and each and every sole proprietorshipbusiness has to be a part of these costs in order to ensure better provision of the services.Also, expenses arising from the business, cost of maintaining of home office, selfemployment costs and intangible costs are some important administrative expenses1Epifanova, T. V., Skvortsova, T. A. and Parshina, E. A., 2017. Influence of clustering oninnovational development of business structures in region's economy.InternationalJournal of Trade and Global Markets.10(2-3). pp.133-141.2Jennings, S., Sahan, E. and Maitland, A., 2018. Fair Value: Case studies of businessstructures for a more equitable distribution of value in food supply chains.1
desklib-logo
You’re reading a preview
Preview Documents

To View Complete Document

Click the button to download
Subscribe to our plans

Download This Document