Assignment question: Youtus Enterprise is an Australian sole proprietorship business which is managed and controlled by The Laba family. With a good background in accounting and finance, Mr. Laba mai

Assignment question:

Youtus Enterprise is an Australian sole proprietorship business which is managed and controlled by The Laba family. With a good background in accounting and finance, Mr. Laba maintains the firm’s books of accounts in addition to the management of the day-to-day operations of the firm. The two sons of Mr. Laba provide additional assistance in their capacity as the sales and product development managers of Youtus. As a family business with a sole proprietorship status, Mr Laba has resigned himself to the constitution of a board of directors of five (5) members with only one independent director. Board meetings are held twice yearly where decisions are made based on majority rule.

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