TASK 2 Situation A: An employee took time off due to his wife giving birth prematurely. His requested time off was approved by his original manager as the employee qualified for FMLA since he has been with the company for two years and was for the care of his spouse. Under (1)”FMLA rules certain employees can be provided up to 12 weeks unpaid‚ job-protected leave per year. The employee must work for the company at least 12 months‚ have at least 1250 hours during the 12 months and the where
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------------------------------------------------- SAMPLE FORMAT FOR TASK 1 PART A ------------------------------------------------- *Course Mentor Note on the interpretation/application of the Taskstream Instructions: According to the instructions in Taskstream‚ you may conclude the task is asking you to include 3 components for Part A of Task 1 which are: 1. ------------------------------------------------- Six of seven characteristics 2. ------------------------------------------------- Advantages
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LIT1 - Task 2 Mark J. Fortenberry May 9‚ 2015 LIT1 - Task 2 Company X has reported three situations that have occurred that require investigating. Since employment and hiring practices are a part of my duties here at Company X‚ I have been charged with the investigation into these situations. In the subsequent report‚ the laws that companies must abide by will be outlined and how these laws affects the outcome in each of these three situations. The Family and Medical Leave Act of 1993
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310.1.2: Organizational Forms Task A SOLE PROPRIETORSHIP: This is the most common form of business as it is owned by one person‚ so there is no distinction between the business and the owner. Liability – Because there is no distinction between the business and the owner‚ all liability falls on the owner/sole proprietor. If the business fails‚ both personal and business worth and assets are at risk as they are the same. Income Taxes – Filing for income taxes are an advantage as the owner
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LIT1: Task 310.1.2-01-06 Task A Sole proprietorship 1. Liability * An owner has unlimited liability both personally and as the company owner. Liability is a disadvantage in a sole proprietorship. 2. Income taxes * The owner is responsible for filing taxes and is allowed to file taxes as part of their personal income taxes. 3. Longevity * This depends completely on the owner and there continued ability to operate the business. The operation of the business can be significantly
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business can be simple and inexpensive to start. A Disadvantage of sole proprietorship is being the only thinker for ideas for decision making‚ advertising‚ etc. 1. Liability- There is an unlimited amount of liability because nothing separates you from the business legally. This means the owner is held responsible for everything. 2. Income Taxes- The business and you are considered the same in one. The owner may have to fill out an extra form‚ and still is accountable to pay his or her personal
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A. SOLE PROPRIETORSHIP: This is the simplest business structure of which the owner has total control. The owner can make up a fictitious name or use the same name for the business. Sole proprietorship is easy to set up at a minimal cost. The business owner does not need to follow rules or regulations of others but their own and can set up their own schedule. Proceeds can be directly deposited into the owner’s bank account and the funds are freely allocated between business and personal accounts
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Part A Sole proprietorship Sole proprietorships are the most common type of business in the U.S. They are most commonly chosen because they are the easiest type of business to set up and give the sole owner of the company complete control of the company. There are many benefits to a sole proprietorship in regards to control‚ profit retention‚ and convenience. In regards to control‚ the owner of a sole proprietorship has the final say in any decisions. Due to the fact that there are no shareholders
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LUT1 Task 2 Situation A: In 1993‚ the FMLA act‚ which serves the needs of families trying to balance work life and the needs of the families their working for‚ was established. This act was amended on October 8th‚ 2009 to extend entitlement rights of military caregivers. The FMLA entitles eligible employees the ability to take off up to 12 weeks of unpaid time off within a 12-month period with the benefit of job protection upon returning to the company. The time off is subject to specific
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Part A When a business forms‚ the owner or owners must decide how to classify it. The type of classification will ultimately determine the rules under which the business will operate. Six general types of business entities exist with multiple variations thereof. Each type of business entity has advantages and disadvantages and there is no one type of entity that’s better than another. Business owners must decide how their business should be classified based on their individual and unique needs
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