{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Lecture 21 - CVEN 349 Civil Engineering Project Management...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
1 CVEN 349: Civil Engineering Project Management LECTURE # 21 Fall 2009 Dr. Ivan Damnjanovic Legal Organization Very important for contractor since it determines: Profit Taxation Liability Operations Raising of Capital Proprietorship The simplest form of legal structure Operations: The proprietor makes all decisions Profit All revenues and expenses are also personal cash flows Liability The proprietor is fully liable for the decisions of the proprietorship Taxation: Proprietor is taxed as individual Raise of Capital: Credit line is limited by the personal assets
Background image of page 1
<