Q1.Carter is a sole trader. His gardening business is not doing well and has recorded very little profit. Unfortunately, he did not install a water fountain correctly and it caused a great deal of damage to his client's garden. His client knows that the profits from the business will not cover the damage and is insisting Carter dig into his personal savings to pay for the damage. Does the client have the right to demand this? Q5. Nai-Xun and Dorian want to start a non-profit organisation to raise money for medical research All money raised will go into funding medical research and sustaining the organisation. Further, they want to buy some property in the organisation's name, to build their headquarters. What type of business structure do you recommend? Q11. Nick and Michael agree to put on a Golf Tournament They call their business The Mick N Nick Golf Event'. Nick is in charge of the administration and catering arrangements while Michael undertakes duties relating to the golf. Profit/losses are to be shared according to each separate activity. Each puts up their own capital to complete each of their task. The own success with the catering making $4,000 profit and the golf earns $3,000, Answer the following questions. (a) Is this a partnership or joint venture? (b) How will the profits be shared? (e) Would the profits be shared differently if the catering made a loss? (d) The food suppliers have not been paid and are suing for $5,000. Who should they use? (e) Michael's equipment worth $2,000 is stolen and he asks Nick to contribute half of the lo Would he succeed? Q11. What risk management practices would you advise a client to put in place in their business to minimise the likelihood of negligence occurring? Include in your answer they type of information you would need from the client to ensure your recommendations were relevant and commercially useful. Q17. Bao is interested in owning and operating a furniture business and seeks the advice of 'Dependable Business Advisors'. Meng is appointed as her advisor and after some discussion and research Meng recommends Bao purchase 'Fabo Furniture' which already has two successful outlets and is poised for expansion and a very successful future. The purchase price is $800,000 and Bao excitedly proceeds. Sadly, after 6 months, Fabo Furniture is losing money and Bao has lost the purchase price and more. A new branch of Ikea has opened across the road to one of the shops and that is why the original owners were selling, Bao discovers that this was common knowledge in the furniture business market and that Meng should have known this at the time, and that further, he gave his advice relying on financial information which was incorrect and out of date. Bao is furious. Advise Bao of any action she may take, against whom she may take it, why she may take it and the consequences of that action