For a would-be entrepreneur, selecting the proper form of business organization is a very important first step in the process. After some consideration and an assessment of your skills and education, you have decided to start a medical billing service that will provide services to providers in the local geographical area. Ideally, you would like to service physicians, dentists and hospitals. 1. Determine which of the three forms of business organization (sole proprietorship. partnership or corporation) would be the most appropriate for your new business. Why did you select the form of business organization that you chose? Identify at least three things that should be taken into consideration when making this selection. (4 points) 2. Based on the form of business organization that you selected, answer the following questions: a. How easy or difficult would it be for you to set up this form of business organization? (4 points) b. What types of liability would you have with this form of business organization? (4 points) C. What personal federal tax implications do you need to consider for this form of business organization? (4 points) d. What will happen to the business if something happens to you, the business owner? Will it continue in its present form? (4 points)