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Dawood khan

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Published in: Economy & Finance

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Transcript

  • 1. FORMS OF BUSINESS ORGANIZATION
  • 2. GROUP MEMBERS
    • M. ASHFAQ KHAN (2722)
    • DAWOOD KHAN (2764)
    • KASHIF REHMAN (2778)
  • 3. CONTENTS
    • SOLE PROPRIETORSHIP
    • PARTNERSHIP (general & limited)
    • CORPORATION
    • LIMITED LIABILITY COMPANY
  • 4. SOLE PROPRIETORSHIP
    • A sole proprietorship is a business owned and operated by one individual
  • 5. Advantages
    • Easy to start
    • No registration
    • No profit sharing
    • Easy decision-making
    • Easy to windup
    • Secrets (information about business techniques)
    • No corporate taxes
  • 6. Disadvantages
    • Unlimited liability
    • Employee benefits i-e Medical insurance premiums not deductible(taxes)
    • Raising funds
    • Limited Life
    • Loss in absence
  • 7. Partnership
    • A Partnership is a legal relationship formed by the agreement between two or more individuals to carry on a business as co-owners.
    • Types of Partnership:
    • General Partnership
    • Limited Partnership
  • 8. Advantages
    • Relatively easy to start
    • The ability to raise funds
    • More skilled persons
    • Loss sharing
    • No Loss in absence
  • 9. Disadvantages
    • Unlimited liability
    • Profit sharing
    • Conflicts
    • Limited life
    • Transferability is difficult
  • 10. Corporation
    • A corporation is defined as a legal entity or structure created under the authority of a state's laws, consisting of a person or group of persons who become shareholders.
  • 11. Advantages
    • Limited liability
    • Unlimited life
    • No loss in absence
    • Easier to raise capital
    • Fringe benefits are tax deductible
    • Easy transferability of ownership
  • 12. Disadvantages
    • More expensive to form
    • More legal formality
    • Double taxation
    • Agency problems
    • Division of profits
    • Leaking of business secrets
  • 13. Conclusion
    • The best form of organization is LLC(limited liability company).Its a hybrid form of partnership and corporation. Positive features of partnership & corporation are combined. i-e Members are having limited liability and for taxation it is treated like partnership.