Lit 1 Task 1 Essay - 713 Words

Sole Proprietorship Liability- Owner is liable for 100% of debts, taxes and liabilities. Income Taxes- Taxed like regular income tax; owner claims it at year end and pays income tax on all earnings. Longevity/Continuity- Company will likely die off if owner does. The company, being one and the same as the owner, cannot continue without measures being taken to pass on Control- Owner has complete control over all decisions made; complete autonomy Profit Retention- All profit belongs to owner Location- The only reason location is an issue is filing for local and state permits based on the business type; may pick up and move when and wherever owner desires. Would need to file a DBA form if owner is operating under a†¦show more content†¦Because there are more people that are able to enter into a contract, being help accountable for someone elses actions may prove to be frustrating. Limited Partnership Liability- The general partner would be liable for all unlimited responsibility on all tasks and debt, while the limited partner will not loss more than their investment. Income Taxes- Taxes are paid as income tax, unless the limited partnership is classified as a corporation by the IRS for tax purposes. In order to keep from being taxed this way, you would have to stick solely to the contract as written, and keep away from operating outside of the agreement. Longevity/Continuity- The partnership would keep operating outside of the limited partners death, as per usual, however, if a general partner dies, and the agreement hasnt covered the possibility of their death and also agreed that the business will keep running past the death of a general partner, the partnership will immediately dissolve. Control- A limited partner has no say in the running and management in the business. The general partners will have the ability to run the business as they see fit. Profit Retention- Profit is split between partners, usually between a set on agreed percentage. Location- Similar to the General Partnership, the Limited Partnership may be moved to another state easily. A new DBA filing must be made in theShow MoreRelatedLit 1 Task 11459 Words   |  6 PagesTask 1 Part A (the report) LIT 1 SOLE PROPRIETORSHIP: Has only one owner. Easy to start up. Some of the advantages are: owners may do whatever they want to with the business and if they want to go on vacation they can. One of the disadvantages they cannot bring in another person to help run the business. This business form is particularly common. †¢ Liability: The owner has unlimited liability. When the business fails it is up to the owner to pay all the creditors off. †¢ Income Taxes:Read MoreLit 1 Task 1 Part a1426 Words   |  6 PagesSOLE PROPRIETORSHIP: Sole proprietorships are the most common form of business in the United States. You and your business are one in the same. While being your own boss as its advantages, like working your own hours and collecting all profits made by the business, there are some disadvantages. For starters is coming up with starting working capital. Most Sole Proprietors have to seek funds from other sources. †¢ LIABILITY – All liability rests in the sole proprietors shoulders. There is no hidingRead MoreLit 1 Task 1 and 22484 Words   |  10 PagesPart A Sole Proprietorship: A type of business that is owned by and run by one person with no legal difference between the business and the owner. It is easy to form with no cost or time to initiate. It gives the owner the ability to self-govern the business. There are drawbacks; only one owner can be established not allowing a partner. Also, unlimited liability puts the owner’s personal assets in jeopardy with the creditors.  · LIABILITY – The owner is held responsible for all debts and expensesRead MoreEssay about Lit 1 Task 11763 Words   |  8 PagesLIT 1 Task 1 PART A Sole Proprietorship Sole Proprietorship is a business owned by one person, as distinguished from a partnership or Corporation. Sole proprietorship is a company, which is not registered with the state as a limited liability company or corporation. Some advantages of a sole proprietorship are that they have flexibility in operations. The sole proprietorship business is undertaken on a small scale. If any change is required in the operations, it is easy and quick to bring theRead MoreChildrens Lit Task 12371 Words   |  10 PagesPart A. In the past five years, children’s literature has had many common themes. Bullying has been a popular subject of interest at all levels of reading. This trend reflects a rising concern about cyberbullying and the sometimes dramatic effects it can have on a child’s life. Writers and parents are making an effort to show children that what they do to their peers has real consequences and to be mindful with their words and actions. Another popular subject is dystopian futures. This interestRead MoreLit Task 1 aB Essay2055 Words   |  9 PagesLIT1 – Task 1 (Part A) Sole Proprietorship: * Single Ownership - The single individual always owns sole proprietorship form of the business. The individual owns all assets and properties of the business and bears the risk of losing or gaining from the business. * No Sharing of Profit – The business is owned by an individual, therefore, all of the gains are directly available for the owner to access immediately. There is no friction between owners * One Man’s Control - The controllingRead MoreCustomer Relationship Management ( Crm )1301 Words   |  6 Pagesincrease profits, but our relationship with our customers will grow stronger. CRM systems are designed to store information on customers across a vast majority of channels or points of contact between the customer and the business. In order for Tru Lit to utilize a CRM system, there should be an interactive website, telephone number, online chat, e-mail, and multiple social media platforms that our customers can easily access in order for us to gain their loyalty to our products. CRM systems are ableRead MoreYolo1583 Words   |  7 Pages____________________________________________ Course Title Course Code Pre- requisite Credits : : : : World Literature Lit 02 Lit 01 3 Units Vision-Mission Statement : Instructor : Email : Office : Consultation Hours: MWF Venue : Consultation Rm. I. Course Description: Socorro D. De Jesus, Ph.D. Associate Professor 1 socorro_dejesus@hotmail.com General Education Faculty Rm, 2 nd floor, St. Anselms Building 1 The course will introduce students to the writings of persons from selected countries across the differentRead MoreEssay about Chief Justice Taney and Slavery1745 Words   |  7 Pagespresent decision is equivalent to a repeal of law and the making of law. This is not adjudication, it is mere usurpation. It is the substitution of mere arbitrary will in the place of the solemn and responsible functions of an impartial judicature.†[1] The 1857 Dred Scott decision proved that Chief Justice Roger Taney’s sadistic racism could be eclipsed only by his unbounded arrogance. Using outright lies regarding the intentions of the Framers, he temporarily sacrificed the entireRead MoreA Short Story : The End Of The Room?1729 Words   |  7 PagesThe screen turned on a and lit up the room making it seem as if the sun was in the room with them. â€Å"Welcome,† the computer said, â€Å"In order to access you must first enter your password or a complete a set of analytical tasks.†   Ã‚  Ã‚   â€Å"What should we do?† Chris questioned.   Ã‚  Ã‚   â€Å"Well, we don’t know the password and you are a genius, let’s do the analytical tasks,† his uncle replied. Chris pushed the tasks button and got his brain ready to do some work.   Ã‚  Ã‚   â€Å"You have selected tasks, you will begin in three

My Family History Diabetes - 1152 Words

After thorough research into my family history I’ve realized that my family has a history of developing diabetes. Also known as Diabetes mellitus is a group of diseases that develop in the human body because of too much sugar in the blood system. There are different types of diabetes such as type one, type two, prediabetes, and gestational diabetes. Type-one diabetes is a chronic condition, in which the pancreas produces little or no insulin. Type-two diabetes is a chronic condition that affects the way the body processes blood sugar. Prediabetes is a condition when your blood sugar is high, but not high enough to be type-two diabetes. The final type of diabetes is Gestational diabetes which is a form of high blood sugar affecting only pregnant women. The human body needs an adequate amount of insulin production, so when your blood cells are deprived of insulin you develop diabetes. Diabetes affects over 382,000,000 people worldwide, so in perspective that’s ever one in eleven Americans has some form of diabetes. According to the center for disease control statistics,† out of the twenty-nine million people that have diabetes in the U.S, only twenty-one million have been diagnosed†. Which means about a quarter of Americans don’t even know they have diabetes yet. My family’s medical history consists of a variety of diseases such as diabetes, prostate cancer and AIDS. When we eat certain foods our body breaks down the food into glucose. Glucose is our body’s main source ofShow MoreRelatedFamily : My Family Health Background1235 Words   |  5 Pages My Family Health Background Denise Xylia Lagua California State University, East Bay â€Æ' My Family Health Background Family medical history is relevant for everyone to know and understand. It can be helpful in determining the kind of lifestyle a person should adapt in order to live longer and better. My family, which includes my paternal and maternal great-grandparents, my paternal and maternal grandparents, and my parents, is from the Philippines. Our traditions have not changed until my parentsRead MoreA Short Note On Diabetes Mellitus Type II1041 Words   |  5 Pagesresearch paper is Diabetes Mellitus Type II. Diabetes is one of the major chronic diseases caused by the insulin resistance that body generates within. It is a serious public health issue currently. There are different types of diabetes we encounter nowadays, but the three main types are Type I, Type II and gestational diabetes (Diabetes Mellitus,2005-2016). The type II diabetes is a non-controlled disease and it is the most common and also known as non-insulin dependent diabetes (Diabetes Mellitus,2005-2016)Read MoreAre You Afrai d Of Needles?1414 Words   |  6 Pagesfinger every day for the rest of your life? I can’t. With Diabetes this is your reality. Many people around the world have this complicated disease. One of my first memories of this disease, was when my grandmother’s blood sugar was very low. She started to shake, fainted and my aunts ran over to give her a shot. Later through the years I found out that they gave her an insulin shot and that my grandmother had Diabetes. This disease runs in my family, but I realize that I do not want to develop this diseaseRead MoreA Short Note On Diabetes Mellitus Type II1039 Words   |  5 Pagesresearch paper is Diabetes Mellitus Type II. Diabetes is one of the major chronic diseases caused by the insulin resistance that body generates within. It is a serious public health issue currently. There are different types of diabetes we encounter nowadays, but the three main types are Type I, Type II and gestational diabetes (Diabetes Mellitus,2005- 2016). The type II diabetes is a non-controlled disease and it is the most common and also known as non-insulin dependent diabetes (Diabetes Mellitus,2005-2016)Read MoreA Brief Note On Diabetes And The American Diabetes Association1472 Words   |  6 PagesTreatment There are a few main areas to look at when talking about treating type one diabetes according to the American Diabetes Association. One of those areas is monitoring your blood glucose levels. Blood glucose is also known as blood sugar and checking this regularly will help your doctors ensure that your medication is effectively treating your condition. The American Diabetes Association recommends keeping a blood glucose log, and patients can find one on their website. A few complicationsRead MoreCoping With Diabetes Mellitus Type II1711 Words   |  7 PagesCoping With Diabetes As a patient, coping with being newly diagnosed with diabetes mellitus, can be very stressful for the patient and family members involved in the patient plan of care. The patient will have to make drastic lifestyle changes in order to be in compliance with the recommended treatment by the members of the health care team. Being a patient, making the necessary lifestyle adjustment will assist with management of the newly diagnosed illness. This essay will discuss a family memberRead MoreHow I Was Diagnosed With Type II Diabetic Mellitus1333 Words   |  6 Pagesdiagnosed with type II diabetes mellitus two years ago. I was been expected to be diagnosed with this types of disease until I went to hospital for annual physical examination for my nursing school. I knew my grandmother diagnosed with diabetes ten years ago but I never think about it. I was a health a person and do what I want and eat what I get without worrying for my health. It was very shocking news for me when my physic ian told me I was at risk to developed type II diabetes. After couples lab testRead MoreA Brief Note On Diabetes Mellitus Type II1141 Words   |  5 Pagesdiseases more prevalent in my family is Diabetes Mellitus type II. It has been the cause of death of one of my paternal great grandmothers, and now it is starting to develop in my maternal grandmother as prediabetes. Therefore, it is very important for me to identify the characteristics of this disease, its prevalence, its risk factors and prevention, and its treatments. According to the American Diabetes Association, type 2 diabetes, or non-insulin dependent diabetes, is defined as a chronic conditionRead MoreChild Diabetes Essay1142 Words   |  5 Pageshis or her entire life. Diabetes is a disease without a cure, and one that more, and more children have to live with. Type 1 diabetes is an autoimmune disease that begins when the pancreas quits making insulin. Insulin plays a key role by letting glucose enter the body’s cells, and then uses it for energy. When the body doesn’t get the insulin it needs, too much sugar builds up in the blood. An individual often thinks of older people when they hear the word diabetes, but more often than notRead MoreA Brief Note On Diabetes And Its Effects982 Words   |  4 Pages Diabetes mellitus, simply known as diabetes, is a condition where the body does not process food properly (CDC). Originating in Europe and Africa, diabetes has become the seventh leading cause of death in the United States, in between pneumonia and Alzheimer s Disease. The pancreas, an organ located near the stomach, makes a hormone called insulin to help glucose get into the cell of our bodies. A person is diagnosed a diabetic when their bodies do not produce enough insulin or they cannot

Production Company in Australia Producing Food Containers

Question: Discuss about theProduction Company in Australia for Producing Food Containers. Answer: Introduction: Value chain basically is how from a series of activities how customers derive small values and this summation of value leads to a complete product or a service. On a scale of 10 to 10 i consider value chain framework to be a 8 as it is a top priority for the success of a production company. Generally a companys profit ,margin can be determined by subtracting the cost of creating any value from the value which is created ( Editorial Team, 2013). Food container producing companies in Australia acquires raw materials and creates a value out of it.There are two categories of such activities - primary and support(Porter, 1985). Primary Activities Logistics inbound Handling of materials Operational tracking Oder process and distribution channels Sales and promotion Repair or installation services Support Activities:- Purchase of raw materials needed for production Developing better technology for efficient work at reduced costs HR management of firm Infrastructural development of firm The value chain approach is used for identifying profit margins and to know about the expenses involved in achieving these profit margins. The strength of such an analysis are:- the process used to create a value by the firm is understood total cost needed for producing containers is determined cost drivers for value creation process is determined links between processes are determined opportunities are evaluated The food container producing companies have successfully lowered costs by making use of disposable materials in these containers. The use and throw policy has helped lower costs to a great extent. Yet it is not affecting demand as people find it comfortable to use and throw such food containers. One of the strategy used by the food container company in Australia is selling food container and drinking container together. Thus, both these are able to create two different values at a higher cost. Not only the purpose of teach is different but together it is able to fetch more sales. However, if bought separately the cost is much higher than the combination purchase. Value chain has created strategies to sell additional product with the actual prodcut sold by the company. For better efficiency customer feedbacks are taken when purchase activities happen. That way it helps in understanding the needs of customer which can be used while the company operates. References Editorial Team., 92013), Porter's Value Chain, Retrieved from: https://www.mindtools.com/pages/article/newSTR_66.htm Michael., P. (1985), The Competitive Advantage of Nations New York: Free PRess