BUSINESS STUDIES GRADE 10 TERM TWO FORMS OF OWNERSHIP 2020
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Gr 10 T2 W6 Business Studies
Gr 10 Business Studies - Forms of Ownership Lesson Plan
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Lesson Plan Business Studies Grade 10 Forms of Ownership
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Forms of Ownership Exploratory Essay
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- As a source of information (ensure proper referencing)
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Sole Proprietorship
Partnership, corporation.
Sole proprietorships are often non legal entities. They are individually owned businesses where the owner is liable for all the profits and losses accrued (Fay, 1998). The simple nature of a sole proprietorship applies even in taxation. The income earned by the individual is what is taxed. Sole proprietors are expected to file Schedule C together with Form 1040 to necessitate the taxation process.
The is a high liability potential to a sole proprietor since the owner can be sued for any failure of the business, thereby involving his personal assets, retirement accounts, and bank account. It is difficult for this type of business to raise capital through selling part of the business interest, and the business can barely survive once the owner dies or suffers incapacitation of any kind (Fay, 1998).
However, this type of business has its advantages in the sense that it is inexpensive to establish and does not require complex ongoing formalities (Fay, 1998). The owner also has the freedom of mixing business with personal assets.
A partnership entails forming a business owned by between 2 and 20 people. Partnerships are further subdivided into general or limited, where general partnership implies that the owners have equal responsibility in as far as management issues are concerned (Jackson, 2002).
Members also have unlimited liability where debts and obligations arise. Limited partnerships, on the other hand, entail a section of the partners enjoying limited liability status. Another section of the members, however, have unlimited liability status in case of debts or obligations. The limitation of liability is proportionally determined by the actual investment of the individuals.
Partnerships have the advantage of pooled skills, knowledge, and experience. In terms of taxation where partners include wife and husband, they stand a chance of benefiting from either total reprieve or only being taxed once as opposed to a situation where the two are running separate businesses. Limited partnerships specifically encourage capital investment in the business because of the limited liabilities.
The disadvantages of partnerships include clash of personalities, especially in the areas of administration and sharing of profits. A partner may end the business by opting to dissolve it even though other owners may wish to continue running it. Partners are also liable, both individually and collectively, to other partners’ defaults. This implies that partnerships are difficult to control in some instances (Jackson, 2002).
Corporations are separate legal entities. Unlike sole proprietorship where the business is the same as the owner, corporations stand on their own separate from the proprietor (Fater, 2010). The shareholders and employees, thus, are not liable to any liability, debts, or obligations of the business.
Corporations, therefore, give members the full protection of their assets. Liability to the members only extends to the actual individual investment within the corporation (Ruther, 1996). Corporations also enjoy the ease of raising money because they issue stocks through which members of the public can contribute to capital through purchasing stocks. Transfer of ownership is also easier for corporations through transfer of the company’s stock to other stakeholders.
Corporations are disadvantageous by virtue of the fact that the business idea is never owned by any single individual; instead, it remains separate as a legal entity. Corporations are often headed by powerful boards that determine their course (Fater, 2010). As an individual who formed the corporation, the powerful board may end up overruling you and, in some instances, firing you where it feels you are against its set objectives.
Larson would better look for partners and form a partnership business. This will offer an avenue for comprehensive knowledge and skills that will in turn spur his business idea towards significant growth. Remaining as a sole proprietorship limits the scope of knowledge and skills that can be applied to the business.
Fater, D. H. (2010). Essentials of corporate and capital formation . Hoboken, NJ: John Wiley.
Fay, J. R. (1998). What form of ownership is best? The CPA Journal, 68 (8), 46-50.
Jackson, T. (2002). The advantages and disadvantages of setting up an LLC. Air Conditioning, Heating & Refrigeration News, 216 (14), 26-26.
Ruther, D. A. (1996). S-corporations can now take advantage of the benefits of foreign sales corporations. Ohio CPA Journal, 55 (4), 77.
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IvyPanda. (2019, June 12). Forms of Ownership. https://ivypanda.com/essays/forms-of-ownership/
"Forms of Ownership." IvyPanda , 12 June 2019, ivypanda.com/essays/forms-of-ownership/.
IvyPanda . (2019) 'Forms of Ownership'. 12 June.
IvyPanda . 2019. "Forms of Ownership." June 12, 2019. https://ivypanda.com/essays/forms-of-ownership/.
1. IvyPanda . "Forms of Ownership." June 12, 2019. https://ivypanda.com/essays/forms-of-ownership/.
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IMAGES
COMMENTS
GDE BUSINESS STUDIES GRADE 10 NOTES CHAPTER 9 1.1 Factors to be considered when choosing a form of ownership • The size and nature of the business • The way in which the business is controlled and managed/ Management • Who bears the risk/ Risk bearing • How capital is going to be raised • How profits and losses will be dealt with/ Sharing of Profit • Who is responsible for any ...
GRADE 10 BUSINESS STUDIES P2 ... TWO essay- type Questions CHOICE: Answer ONE. 5 40 30 minutes 6 40 ... Forms of ownership refer to the type of business selected by a business owner. Different forms of ownership are suitable for different kinds of business. Author: HAntunes
GDE BUSINESSSTUDIES GRADE 10 NOTES CHAPTER 9 6 1.4 Classification of forms of ownership according to profit and non-profit companies Forms of ownership: Companies Classification according to non & non-profit companies • Private Companies: to be reflected as Proprietary Limited or (Pty) Ltd • Personal Liability Companies: to be
CHAPTER 8 BUSINESS STUDIES GRADE 10 TERM TWO CHAPTER 8 WEEK 4 FORMS OF OWNERSHIP PART 1 2021 CHAPTER 8 TABLE OF CONTENTS TOPICS PAGES. Exam guidelines for forms of ownership 3 Terms and definitions 4 Factors that must be considered when choosing a form of ownership.
INFORMAL ACTIVITIES ON FORMS OF OWNERSHIP GRADE: 10 TERM 2: POST COVID-19 ACTIVITY: 2 WEEK: 3 & 4 REFER TO CHAPTER 7 NOTES DATE: THIS ACTIVITY CONSISTS OF 2 PAGES . GDE/BUSINESS STUDIES Forms of ownership 2020 Post covid-19 2 2.1 Outline any FIVE factors that should be considered when choosing a form of ownership. ... Write an essay on a state ...
Gr 10 Business Studies - Forms of Ownership Lesson Plan. Gr 10 Business Studies - Forms of Ownership Lesson Plan ... Grade R Grade 1 Grade 2 Grade 3 Grade 4 Grade 5 Grade 6 ... NSC Past Papers & Memos NSC Exam Timetable NSC Exam Results FET Exemplars ...
Grade 10 Business Studies. Business Studies. Most of these past exam papers are available in both English and Afrikaans. GRADE 10. Term 1. Term 2. Term 3. Term 4. SATestpapers Graad 10 Besigheidstudies past exam papers Graad 10 Besigheidstudies exam papers Graad 10 Besigheidstudies past papers Graad 10 Besigheidstudies test papers ...
TOTAL MARKS FOR ESSAY (8+32) 8 32 40 NOTE: 1. No marks will be awarded for contents repeated from the introduction and ... FORMS OF OWNERSHIP 4.1 Forms of ownership State-owned company Private company Public company Personal liability company a. Free transfer of shares √ . BUSINESS STUDIES GRADE 10 P 2 JUNE MARKING GUIDELINES NW/2019 ...
💭If you would like to join our lessons live, head over to the link below.💭 https://stemdigitalschool.africateengeeks.co.za/ Students with access...
1.1 Factors to be considered when choosing a form of ownership. The size and nature of the business. The way in which the business is controlled and managed/ Management. Who bears the risk/ Risk bearing. How capital is going to be raised. How profits and losses will be dealt with/ Sharing of Profit.
The percentage ownership of each partner. Decision-making procedures. Process to dissolve the partnership. An Arbitration clause. Sharing of profits and losses in a partnership. According to the specific ratio agreed upon in the Partnership agreement. Study with Quizlet and memorize flashcards containing terms like Borrowed capital, Own capital ...
Business Studies Grade 12 Notes ON Creative Thinking Problem Solving; Business studies grade 12 notes; Grade 11 term 1 activities; Related Studylists BMA BMI FNA15. ... Question 5: Essay question Form of ownership: Rubric to use: Introduction 3. Convert to 32. Facts: Characteristics Advantages Disadvantages. 2 max. 12 max. 12max. 30 max.
STEP 4: Differences between the 2 Types of Ownership. Having viewed the video recordings and the pictures, learners will work in groups of 4. to identify the 2 different forms of ownership and list the main differences. Each group. will be given an A2 chart paper, newspaper and magazines, markers and glue and.
A document that gives information to attract buyers or customers to a business. Stands for State-Owned Enterprise; a business that belongs to the government. A business with 2-20 owners, who have unlimited liability for the debts of the firm. A form of ownership with 1-10 members, who have limited liability for debts of the business. The set ...
- verbal, written tactic agreement - 2-20 persons - not a legal entity - profit and losses will be shared by partners - partnership agreement -Based on utmost, good faith -unlimited liability for debts - jointly and severally liable for debts - raise capital by bringing in more partners - no continuity - partner will pay tax in his/her personal capacity -share the responsibility of business
QUESTION 1. 1.1 Various options are provided as possible answers to the following questions Choose the answer and write only the letter (A-D) next to the question number. (1.1.1- 1.1.5) in the ANSWER BOOK, for example 1.1.6 A. 1.1.1 The business' strengths and weaknesses are part of this environment. A. Macro.
Welcome back to my channel. Don't forget to like, comment and subscribe. #road to 100 subscribers In this video I will discuss: Forms of ownership- Sole Prop...
This document provides an overview of different forms of business ownership in South Africa, including sole proprietorships, partnerships, cooperatives, close corporations, and companies. It defines each form of ownership and outlines their key characteristics, advantages, and disadvantages. The document is intended to assist teachers and learners in understanding the different options ...
A business in which two or more persons combine their assets and skills, verbal or written agreement (common n dentistry, medicine, accounting and trades) Corporation a legal entity that exists independently of its owners, has same rights as a person (can get money, can get sued)
They are individually owned businesses where the owner is liable for all the profits and losses accrued (Fay, 1998). The simple nature of a sole proprietorship applies even in taxation. The income earned by the individual is what is taxed. Sole proprietors are expected to file Schedule C together with Form 1040 to necessitate the taxation process.
TOPIC 2: FORMS OF OWNERSHIP Outline/Name the FACTORS THAT MUST BE CONSIDERED when choosing a form of ownership. CONCEPTS DESCRIPTION 1. LEGAL PERSON. The legal right of a person or business to own property, enter; into contracts and sue or be sued. 2. CONTINUITY. The ability of the business to continue after the death or
List 5 characteristic of a sole proprietor. -Sole proprietorships are not legal entities. -Assets belong to the owner. -Profits belong to the owner. -The owner pays tax in his/ her personal capacity. -The owner is liable for all debts incurred by the business. List advantages of a sole proprietor. -The owner has direct contact with customers.
Forms of business ownership for grade 10 learners. Mar 6, 2014 • Download as PPT, PDF •. 8 likes • 5,953 views. Dillyn Mokoena. Follow. This power point slide is mainly about the different forms of ownership and it focuses mainly on the Sole proprietorship, Partnerships And Corporations. As these forms of ownership are distinctive from ...
Study with Quizlet and memorize flashcards containing terms like Choosing the correct Form of Ownership, Characteristics of a Sole Proprietorship, Advantages of a Sole Proprietorship and more. ... Gr 10 Business Studies - Forms of Ownership. Flashcards. Learn. Test. Match. Flashcards. Learn. Test. Match. Created by. theImmortalJellyfish. Terms ...