Kioko, a form-four leaver, has just been informed that he has inherited Kshs. 100,000 following the passing on of his grandfather six months ago. On learning about his new found fortune, Kioko has decided that university is not for him and decided that he should go into business instead. He is particularly interested in the mango-business which to him presents a lot of potential. Kioko's parents own a farm where they grow mangoes and every year during the mango-season, too many mangoes are produced and a lot of mangoes end up going bad. Kioko's idea is to supply these mangoes to other areas of the country. In the long-term Kioko intends to start a factory where he can process his mangoes and sell them as mango-juice. He informs you that he has spoken to several friends who think that this is a very good business idea which any sensible person would take up.

Kioko walks into your office seeking your advice on a number of matters:

a)What type of business association would bemostrelevant for his purposes?

b)What are the advantages and disadvantages of that business association?

c)Is registration of that business association necessary?