A sole proprietor however does not necessarily have to run the business him, the owner can have others oversee and run the operations of the business just not as a partner, the owner is the overall decider of what will happen and will dictate the businesses future. This type of business form is the most widely used throughout the country, however it is not a form of business that is necessarily run with a large employee count. Rather it tends to be used with companies of one-person or a small number of employees. Advantages * Simple – start up is basically easy; the only legal item needed at first is state or local permits and licenses. If you want the business to have a name other then your given name you can file a request for that.
First, consider whether or not the data collected will pose legal ramifications for Kudler. Are we as an organization going to implement security controls to protect the consumer’s credit information, such as, credit card numbers, customer name and billing address? Are we going to utilize the purchase cycle data to analyze the habits of our consumers to market more products? Are we going to sell any of this information to marketing companies to help us to conduct ad campaigns for Kudler Fine Foods? Second, how do we deal with the ethical challenges that come with a Frequent Shopper Program, such as, Kickbacks?
Running head: Business Law Rachel Lavender Western Governors University 2/21/11 PART A Sole Proprietorship A sole proprietorship is how most business entities begin. This type of business is owned and operated by one person. The main advantage of this type of business is that the owner does not need to get the approval of a partner or board in order to make decisions. A significant disadvantage is that, in a sole proprietorship, there is no separation from the business and personal assets, therefore, there is unlimited personal liability to the owner’s personal assets. · Liability-There is no difference between personal and business assets.
• What would the effect of IFRS be on this transaction if the acquisition is structured through Fuzzy’s foreign subsidiary? Would the foreign subsidiary record it as an acquisition of business or a group of assets? Authoritative Literature and Conclusion It is important to determine whether the transaction is a business combination or an asset acquisition for a variety of reasons including: ___________. ASC 805-10-25-1 states that an entity shall account for each business combination by applying the acquisition method. For acquired assets that are not a business, they shall be accounted for as an asset acquisition.
Kudler should invest a significant amount of research on identifying the strengths and weaknesses of Whole Foods Market and how they can capitalize on those weaknesses. Focusing primarily on the costs of similar products to ensure that they will be able to remain competitive are indeed truly offering quality product at affordable prices. Saving money is a primary concern for most consumers and Kudler needs to invest in research tactics in this area to address that consumer
The tax free exchange is the ability to transfer personal assets to the corporation with no gain or loss recognized. Code Section 351, which addresses the tax-free transfer, states that no gain or loss is recognized by either the contributing shareholder or the recipient corporation if three conditions are satisfied. These conditions are (assuming that the transfers having a bona fide business purpose): 1. There is a transfer of property (and not services), 2. Solely in exchange
Identify the true statement in the context of a franchise arrangement. • The franchisee can sell the franchisor's products but can never manufacture them. • The franchisor licenses the franchisee to use the former's trademarks. • The franchisee can manufacture the franchisor's products but can never distribute them directly to consumers. • The franchisor is essentially the owner of the franchisee.
To reach this goal Kudler Foods will need to assess how changes in technology will help create business opportunities by pursuing a generic strategy and tactics for implementation. Kudler’s management will continuously need to scan the fine foods grocer industry for ideas that will provide for an updated
The second characteristic is virtualization. Cloud computing will provide uninterrupted service through online availability 24/7. The around the clock availability by the hosting provider is beneficial to company needs. The third characteristic is pay-as-you-go. Riordan Manufacturing will never have to pay for service it is not using.
Tootsie does not have interest expense on the income statement. For both companies, try to find the gross interest