1. This assignment deals with the subject of partnerships and partnership accounting. While the accounting is relatively straight forward, the subject is partnerships themselves can be very expansive.

Picture if you will two sisters that want to start a business together. Sister “a” brings to the table technical knowledge and contacts with potential customers. Sister “b” brings to the table the physical facilities to make the product and the cash required to get their business of the ground. Based solely on this information, would you recommend the sisters start a partnership or a traditional c-corp. together, and why?

2. You have been exposed to numerous, high-level financial accounting topics, each with its own challenges and nuances.

Which particular topic(s) that we covered did you find challenging or informative, and why?