Busn732 | Global Business Management Assessment Answer
Both the state and federal government demands tax from the corporation. The dividends are treated as income when being dispensed to shareholders hence making them eligible for taxation, again.
More federal and state regulations and oversight
Filing tax returns for corporate is complicated. Filing of annual reports, Articles of corporation and corporate bylaws is mandatory
5. Preferred share is a class of specific ownership in a corporation with a much high claim on its earnings and assets than a common stock. Preferred stocks don’t carry voting rights. “Common” share, on another hand, is a security that serves to represent ownership in a company. Owners of this class of stock have voting rights.While Preferred stock earns a dividend, they aren’t as attractive as they seem. In fact what makes the “preferred stock” term look misleading is that the owner has no right to participate in the decision making processes of the company because s/he doesn’t not have voting rights (Clairmont, 2016).
6. As an investors, you’ve two choices for investing is a company; you can buy the company’s stock or you can opt for its bonds.As a bondholder, you’re described as being a lender to the company who’ve been given a given amount of interest in exchange. Hence, you can only make money by selling the bonds or keeping them and collecting the interest. A shareholder, on another hand, can be described as a part owner of the company by possessing a piece of the company in form of shares. You make money by receiving the dividends or selling the stocks altogether.
7. Each country’s Companies Act spells out various duties given to the director of the corporation. They include;- Promoting the success of the corporation by acting in good faith for the benefit of the company and the members
- Acting in his/her power for the given purpose. It can be in line with the company’s constitution, resolutions, articles of association etc.
- Avoiding conflicts of interest in relation but not limited to exploitation of property, opportunity of information
8. Explain why it is becoming increasingly difficult to get prominent individuals to serve as directors of Canadian corporations.
Prominent individuals shun the idea of taking up director roles in corporations because it is considered to be a junior position in the organization (below CEO and an array of other posts). Prominent people dislike working as juniors.
9. The process of dissolving a corporation takes several steps although this may vary from one country to another- Calling a board of meeting
- Filing the certification of dissolution with the government
- Notifying the revenue authority
- Closing credit lines and accounts
- Canceling Licenses etc.
10. An employee has a long term relationship with the company and the company is permitted by the law to withhold his/her income tax and submits it to the revenues authorities. Independent contractors have short tern relationships with the company and submit the taxes on their own without the intervention of the company.
In a court of law, a Judge will examine how an individual pays the income tax. If it is submitted via a third-party, that person qualified to be an employee and vice versa.
11. A contract meant to last for an indefinite period of time can be terminated one of the involved parties by giving a notice in advance with a reasonable time period. The notice is determined by consulting the provisions from the constitution. ?- Gross misconduct that amounts to serious violation of the company rules
- In case the company has already settled the employee’s wages beforehand and wishes to retrench part of the staff
As an employee, you can leave employment without notice in the following circumstances;
- If you believe you won’t be allowed to work for the employer through the legal 2 week notice period
- If you have found a better job and you are required to begin right away but your manager isn’t willing to make the necessary arrangements that may facilitate your departure
- If the company is laying off people
- If your manager is involved in a major conflict with you
13. In the employment law, constructive discharge occurs when an employee terminates the contract or resigns due to the hostile environment created by the employer (Weiner, 2011).
The court will consider the following when determining compensation for wrongful dismissal;
- Whether reasonable notice was given to the plaintiff (the employee)
- Whether reasonable pay was given to the plaintiff (employee)
The remedies available to the plaintiff includes claiming damages for the wrongful dismissal or payment in lieu of the reasonable notice.
14. “Duty to accommodate” refers to the obligation of service providers and employers to adjust rules, practices and policies to enable you as an employee to participate fully. It helps employers understand their rights, the rights of the employees and their responsibilities under Alberta human rights law (Trotter, 2011).In case the employer fails to compensate the injured employee accordingly, the employee may seek alternative forms of statutory compensation or compel the employer to do so through the courts.
16. A union shop is a security clause in which the employer agrees to only hire members from a specific labor union or require employees yet to join the labor union to join it. In a Closed Shop, the employer employs members of a specific union and requires them to remain in the union lest they lose they lose their jobs. In Agency Shop, the employer is allowed to hire workers inside or outside the union but the current workers to remain employed, they must join the union(Ponak & Gottlieb, 2001).22. An employer can protect confidential information by inserting non-disclosure provision in employment agreements. The employer can also label appropriately on documents containing confidential information entirely limit access to the said information.
- Find the location where your sensitive data files resides
- Achieve visibility awareness into who has and can and access the data
- Set appropriate access policies, Separation of Duties policy and compliance controls in place
- Automate the Access Requests, Eliminate Stale Objects, Perform Access Reviews, Delegate authority, and enlighten everyone in the organization about data protection
References
Clairmont, S. (2016). A Look into Protection of Preferred Stockholders' Rights under the Context of State-Owned Enterprise Reform. Journal of Labour Market, 652-7351.
Ponak, A., & Gottlieb, D. (2001). Mandatory agency shop laws as an explanation of Canada-U.S. union density divergence. Journal of Labor Research, 541-568.
Trotter, G. (2011). The Right to Decline Performance of Same-Sex Civil Marriages: The Duty to Accommodate Public Servants - A Response to Professor Bruce MacDougall. Journal of Commerce, 125-236.
Wayne, C. (2015). The Fantastic Failure: How Current Copyright Law Stacks the Deck against the Original Authors of Justice. Journal of Labour Markets , 167-201.
Weiner, S. (2011). Constructive Dismissal and Repudiation of Contract: What Must Be Proved. Journal of Labour Market, 354-433.
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