Jason, a friend of yours, can offer an additional $15,000 and would like to partner with you in business. Assume you and Jason agree that you will devote 55 percent of your time to the business (focused on customer service and catering), and Jason will devote 45 percent of his time to the business (focusing on web-design, business promotion, and book-keeping). You will split the profits 55 percent (you) and 45 percent (the others) (Jason.) You also determine that, while the two of you will make the majority of business choices together, you will make the catering decisions, which are at the heart of the business's day-to-day operations. You'll help each other as needed in your own fields of expertise.

2.) Which of the following company arrangements is/are best for you and Jason: general partnership, limited partnership, limited liability partnership, and corporation? Explain your response, making careful to mention the issue of culpability for both you and Jason.

3). Explain briefly why the various business forms mentioned in A, which would not be a good fit for you and Jason.