Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bossy Betty is wanting to start her own company, but she does not have sufficient assets or credit to do it alone. She will need

image text in transcribed
Bossy Betty is wanting to start her own company, but she does not have sufficient assets or credit to do it alone. She will need some outside investors. She wants full control of the business, making all management decisions. She does not want to share management with anyone. Betty did not take L201 or L303 so her knowledge of the different business formations is rather limited. She is familiar with sole propreitorships and general partnerships, but has heard of joint and several liability and the fact the other investors might have input into the day-to-day running of the company. She has decided to form a Limited Partnership because she thinks that will best serve her needs. #1 - point out one or more reasons a LP might not be Betty's best choice. #2 - pick a different business form and discuss at least one advantage it would have over a LP, #3 - and discuss a shortcoming or drawback to the business type you picked in #2 above. grading criteria 10 points - Original posting is of high quality, at least 75 words and displays depth of knowledge on the topic showing that the student

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Blockchain Technology In Accounting And Auditing

Authors: Prof Oleksandr Melnychenko

1st Edition

1976900328, 978-1976900327

More Books

Students also viewed these Accounting questions