Phase 2 Discussion Board Deliverable Length: 500 words, plus chart of accounts Details: Primary Task Response: Within the Discussion Board area, write 400600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas. In this assignment you will do the following: Choose the type of service business that you will use for the key assignment. Discuss if you will want a sole proprietorship or a partnership. Discuss your choice on the Discussion Board. Develop a chart of accounts that is appropriate for your type of business. The chart should contain a minimum of 5 assets and 2 liabilities. Remember that this is a service business. Revise your chart of accounts, if necessary, based on what your learn from the discussion. Discuss the reasons for your choice of business type and your chart of accounts. Your discussion should include the pros and cons of both business types: sole proprietorship and partnerships. Responses to Other Students: Respond to at least 2 of your fellow classmates with a reply of at least 100 words about their primary task response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions: What did you learn from your classmate's posting? What additional questions do you have after reading the posting? What clarification do you need regarding the posting? What differences or similarities do you see between your posting and other classmates' postings? Instructor Comments: Instructor Comments: Phase 2 Discussion Board Format: Follow the format requirements below or points will deducted for not following the format. Introductory Paragraph This should explain what your paper will be discussing Heading: Type of service Business In this section of the paper choose the type of service business that you will use for the key assignment, explain a little bit about your business choice. Heading: Business Type - Discuss if you will want a sole proprietorship or a partnership, and discuss the rationale for your choice, your discussion should include the pros and cons of both business types: sole proprietorship and partnerships. Heading: Chart of Accounts - Develop a chart of accounts that is appropriate for your type of business. The chart should contain a minimum of 5 assets and 2 liabilities. Remember that this is a service business. Revise your chart of accounts, if necessary, based on what your learn from the discussion. Heading Conclusion Write a concluding paragraph