Question #1

PART A: Answer each of the following questions in a composition of 10 to 20 sentences. Each answer is worth 20 points. 1. Tricia and Troy are starting a pharmacy. After meeting with their attorney and accountant, they decide they want to begin using the simplest form of business organization they can. However, their primary concern is personal liability. They don't want to jeopardize their personal assets for business obligations. They'll also need to obtain financing to get the business started. A few investors have expressed some interest, but they'll invest their money only if they receive some stake in the busi- ness or some possibility of return for their investment. The investors want to have no part in running the business and want to be sure they have no liability for business debts. What form of business organization would you recommend? Why? Explain why other forms of business organizations wouldn't meet their needs