Insurable interest meaning The meaning of insurable interest in general insurance explains that the subject matter of insurance must have the ability to provide some financial gains to the insured, that is, it must possess financial value. If there is a loss of the subject matter due to theft, fire, damage, etc., …
Indemnity in insurance meaning Indemnity refers to the security or protection against financial liability which usually occurs in the form of a legal agreement that takes place between parties whereby one party agrees to pay the other party in an event of loss or damage suffered. The definition of indemnity in insurance …
An LLC taxed as S Corp has some benefits but also has disadvantages to the company. This happens when it elects the tax status of an S Corp. Certain criteria must be met for LLC to be taxed as an S Corp. Advantage of LLC taxed as S Corp One of the …
A complete comparison of LLC vs S Corp differences, tax benefits, similarities; as well as the advantages and disadvantages of LLC and S Corp. An LLC may be used in many countries and under different names. It is not a corporation in the sense of being a separate legal entity; rather, it …
Comparison of the differences between LLP vs LLC, their similarities, advantages and disadvantages of LLC vs LLP and their associated tax benefits. Owners are still liable for their own negligent acts, malpractice, and liabilities related to their ownership of the firm. LLP is more flexible than a regular corporation or partnership because …
There are different kinds of business organizations. We will discuss a list of 10 different types of businesses, their examples, and their structure. List of 10 different types of businesses Sole proprietorship Limited liability company (LLC) Partnership Corporation – C corp Corporation – S corp Corporation – B corp Corporation – nonprofit …
During a recession, if the government uses an expansionary fiscal policy to increase GDP, the growth of the economy will be accelerated. Also, the aggregate demand curve will shift to the right. This is because, during this period, the economy operates below the level of full employment and the economic growth is …
Free enterprise system definition A free enterprise system is defined as an economic system in which the prices of goods and services are determined by unrestricted competition between privately-owned businesses. Also, it can be defined as an economic system in which the ownership of businesses, and activities relating to how businesses are …