Directions: Read each scenario. Choose which business organization type would be best for each situation and explain why. Also, explain how they would overcome any other dilemmas that the scenario presents. Scenario #1: Scott, Mark, and Joe want to buy into a restaurant franchise. Joe is an accountant. Mark has previous restaurant experience as a server and manager. Scott is an attorney. In order to open this franchise, they must commit to opening 3-5 stores and are required to have $10 million in liquid assets (Cash is a highly liquid asset followed by the banking accounts, checkable account, short-term promissory notes, treasury bills and other government bonds.) They currently do not have the required liquid assets. Which business organization will be the best for this situation and how will they solve their money problems? 1. Type of business organization: (Sole proprietorship, Partnership, Corporation) Partnership 2. 'Reasons for Position: A partnership is more than 2 people business that is owned and controlled. 3. Identify at least one negative and suggest how you might minimize it. To minimize a situation would be