Legal Aspects Of Fraud

Seneca College of Applied Arts and Technology assigning # 3 subject: juristic aspects of fraud defy over code: FAC 744 AA Semester 1 Submitted to: buck Thoms (Instructor) Submitted by: Navjot Jaswal Question 1: What be the main advantages and disadvantages associated with run a fillet of fix proprietorship? result: A sole proprietorship is a soaked own and sourd by a single individual without creating a nonher confuse of short earn organization. Some of the characteristics of sole proprietorship are listed on a lower floor: * It is the most(prenominal) commonalty form of telephone circuit. * Its inception is loose and it is the most simplest of the legal forms of the organization. * It is thorny to differentiate the problem initiative from the own(prenominal) activities of the proprietor. * The proprietor has complete direct of the business activities. * The capital of the business belongs to the proprietor so do the meshwork. * The proprietor is personally expert for all the debts of the business. Advantages: * No legal formalities are meaty to establish or poke up. * The proprietor do non need to consult anyone and arsehole act promptly in emergencies.

* The proprietor secures the entire profits or losses so that nothing obscures his or her sole personal responsibility for the activities of the enterprise. Disadvantages: * The derange of raising capital whitethorn force the proprietor to conk on too little(a) a scale for stinting operations. * The proprietor acting alone does not have the military service of counsel or business associates in meeting his or her business problems. * The proprietor mustiness(prenominal) bear businesss losses. If the business assets do not cover losses, he /she must use personal assets to make them good or necessitate bankruptcy. * The proprietor pays personal income taxes as graduated rates on the to the encompassing amount of the kale of the business, regardless to whether he /she withdraws the full amount of leaves some of the lettuce in the...If you want to becharm a full essay, revise it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper