Partnership - Problem solving Submit Assignment Due Saturday by 11:59pm Points 15 Submitting a text entry box or a file upload Available Feb 14 at 12am - Feb 20 at 11:59pm 7 days 1. What are the characteristics of a general partnership. Theresa Thayer, a friend from college, ask you to form a partnership to import fragrances. Since graduating. Thayer has worked for the Spanish Embassy, developing important contacts among government officials. Thayer believes she is in a unique position to capitalize on an important marker. With expertise in accounting, you would have responsibility for partnership's accounting and finance. List the seven items that would need to be incorporated intot he written partnership agreement 2. What characteristics identifies a limited Liability company This is a graded discussion: 20 points possible Discussion - Decision Making feb 20 Decisions - How should the earnings be allocated? Jacob Butler and Sophia Coleman are planning on opening a new online specialty clothing store. Their store will specialize in offering organic cotton T- Shirt for the unique and artistic individual. Their T-shirt will convey a powerful, philosophical, and motivational message. Jacob with his degree in philosophy and art, will design the T-shirts and manage the online website. Sophia, who already works full time as an attorney, is only able to contribute cash to the business. She will help initially with setting up the partnership agreement but will not be able to help in the day to day operations of the business. Jacob and Sophia have decided that they would like to structure the new business as a partnership, but they aren't sure how to allocate the earnings of the partnership. What should Jacob and Sophia do? Search entries or author Unread Reply Replies are only visible to those who have posted at least one reply This is a graded discussion: 20 points possible Discussion - Ethics decision Erik Morales was very angry with his brother. He had just come from a partnership meeting concerning the purchase of new equipment for their recording studio. His brother, Juan, disagreed about purchasing the new equipment, stating that the business didn't have enough cash to purchase the equipment without incurring additional debt. Erik knew that if his brother could just see how well the new equipment worked, Juan would change his mind. Should Erik buy the new equipment? What would you do? Search entries or author Unread + Reply