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

Careers in accountingaccounting is the study of how

Careers in Accounting Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities in addition to preparing financial statements and recording busi ...

Business assignmentthe comany i have choosen is upsresearch

Business Assignment The comany i have choosen is UPS. Research a company that interests you from the Fortune 500. (A list will be provided). Analyze what they do. What business are they in? What industry? How have they b ...

1 regarding the ottoman territories during the period

1. Regarding the Ottoman territories during the period immediately following World War I, which of the following statements is false? A. Defying Allied pressure, the Turkish sultan supported Kemal. B. In 1921, Greek forc ...

Required 1 provide fletchers ceo with an interactive report

Required 1. Provide Fletcher's CEO with an interactive report presenting the sales and profits of SuperDepot for the last four years. Use an interactive visualization software(Power BI) to produce one or more Interactive ...

Problem -using the following proforma information regarding

Problem - Using the following proforma information regarding GE, Inc. based on analysts' forecast in early 2016:   2016E 2017E Next 3 years EPS 1.29 1.56 Growth at 7.59% DPS 0.92 1.11 Growth at 10% The book value of GE's ...

Assignmentparticipation topic mandatoryinventory additional

Assignment Participation Topic (Mandatory) Inventory Additional Lecture Notes Class, Let me see if I can work up an example of how to calculate and use the different inventory methods. Let us use the following informatio ...

Discussion questions 1 and 2dq 1 accounting equationas you

Discussion Questions 1 and 2 DQ #1: Accounting Equation As you have learned in this week's readings, the Accounting Equation is Assets = Liabilities + Owners' Equity. Is the accounting equation true in all instances? Pro ...

Consider the following scenarioandre has asked you to

Consider the following scenario: Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 per hour and works a 40-h ...

Assignmentthis assignment has 2 parts 1000 10 word theory

Assignment This assignment has 2 parts, 1000 + 10% word theory interpretation essay and a response to a practical application of the theory. The assignment must be typed, use Arial font, 12, to avoid plagiarism, make sur ...

As you begin this assignment review the broad range of

As you begin this Assignment, review the broad range of topics presented throughout the course related to using accounting information for decision making. Clearly, 8 weeks does not provide enough time to explore all the ...

  • 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

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

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen