Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Short answer problems

Assume you are about to start up the small business. There are a range of decisions you would required to make, for legal reasons, at certain steps of the set-up process. The following problems ask you about different decisions you will usually need to make if you were setting up the real business. While you are encouraged to think of your own idea for the business, and to be a bit creative here, this exercise does not need anything like complex business plan or any financials. Importantly, the business does not required to be, and in fact must  not be, a complex business or a large enterprise for the purposes of this assignment (this will not get more marks). It must though be tasteful / not offensive in nature. This exercise is intended to focus your attention on specific decisions which have a legal aspect, and to describe your reasoning in making those decisions to us in a clear and business-like manner.

Some suggestions that may be of help (and which you are quite entitled to use as a starting point) include:

• a retail shop (perhaps selling goods which relate to the hobby, sport or pass-time that interests you);

• a restaurant or cafe;

• a small business of a type you have some personal experience working in; or

• an online business selling consumer goods through a website.

problems

1) Briefly describe the small business you will like to start, (outline facts such as what type of business it is, what it sells, who works there, where it is, etc).

2) What type of business structure do you think will be the best one to adopt for particular type of business you have describeed in problem 1, above?

3) describe why the business structure is the best one for this business.

4) prepare down a name you will like to give your business.

5) Can you register the name as a trade mark? Describe why or why not.

6) What other registrations must you consider which involve name of your business? What problems may you run into at this point?

7) Briefly describe two other legal issues or areas which you will expect to have impact on type of business you are setting up (as described in problem 1, above).

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92786

Have any Question? 


Related Questions in Accounting Basics

Question 1you are in charge of giving a trial final exam to

QUESTION 1 You are in charge of giving a trial final exam to classmates. Choose two problems from different areas of financial reporting that you studied in this course. Submit them as your initial post as early as possi ...

Question 1important multiple-choice questions are to be

Question 1 Important: Multiple-choice questions are to be completed within the Online Learning Environment in your TX2 Assignment Submission section. This portion of the assignment will be automatically graded. Do not in ...

Assessment - written report - individual assessment purpose

Assessment - Written Report - individual assessment Purpose: This assessment is designed to reinforce the subject content and develop students' skills and application of knowledge of the subject content to business situa ...

Assignmentapplication break-even analysiswhen expenses and

Assignment Application: Break-Even Analysis When expenses and revenues are equal, this is known as the "break-even point" or BEP. To determine break-even, an examination of fixed and variable costs (expenses) in relation ...

In the wake of the accounting and finance scandals of the

In the wake of the accounting and finance scandals of the early 2000s, the regulatory environment for businesses changed dramatically to create more accountability and transparency. Agencies like the Securities and Excha ...

Accountinguse the internet to research an annual report of

Accounting Use the Internet to research an annual report of a retail company. • Then, imagine you are an investor or creditor; suggest the ratios that you believe would provide an investor or creditor with the most impor ...

Assignment expected value and consumer choicesconsumers

Assignment: Expected Value and Consumer Choices Consumers' choices are prey to subtle discrepancies that arise in cognitive accounting. Learning how and when you are prey to these discrepancies is an important step in im ...

Accounting assignmentflorida sunshine real estate

Accounting Assignment Florida Sunshine Real Estate Properties, Inc. is a real estate firm located in southwest Florida. The company, which advertises itself as "expert in the real estate market", monitors condominium sal ...

What went wrongfriends bank is seeking to hire a new teller

What Went Wrong? Friend's Bank is seeking to hire a new teller. Darrell has applied for the position. His application states that five years ago, he was convicted for embezzlement as a teller. In the interview, Darrell r ...

Intermediate management accounting1carpe diem co reported

Intermediate Management Accounting 1. Carpe Diem Co. reported the following variances for the period: Direct materials price variance $1,700 U Direct labour efficiency variance 23,600 U Fixed overhead volume variance 10, ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro