Repair business as a close
business, he accepted his brother (Jan) and his
members/partners s...
Repair business as a close
business, he accepted his brother (Jan) and his
members/partners so that they could share the workload and responsibilities.
In 2019 they have become concerned about the future of their business and wants to
explore the possibilities of registering the business as a company.
At a meeting with his members/partners, they raised the following concerns:
What are the legal repercussions of converting?
Will they still enjoy the benefits of limited liability?
How will this affect their division of profits and capital contributions?
What will they have to change in terms of internal recording and management
processes?
EQUIRED:
a well-structured report, you are expected to cover the following:
An explanation of the difference forms of ownerships, specifically partnership,
close corporation, and company.
Procedures in registering a business as a company; types of companies; shar
capital and related provisions in the Companies Art
Answers: 2
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