QUESTION 25 You are a junior accountant at an accounting firm, and a senior accountant delegates an assignment to you. She wants you to assist one of her clients with setting up a business entity. You meet with this client, Mr. Jenkins, and he informs you that he is planning to start a technology company with three other tech professionals. The firm will provide cybersecurity and other technological services to individuals and businesses. Mr. Jenkins will be contributing $50,000 as an initial investment in the company and the three other tech professionals will each contribute $10,000. Mr. Jenkins explains to you that because he has a lot more experience than the others, and because he is contributing more capital, he expects to receive more of the profits from the business and he would like to have a greater voice in the management of the company than the others. He also tells you that he is concerned about what would happen if the one of the other tech professionals leaves the company, as he is not sure he would like to work with anyone else. Finally, Mr. Jenkins tells you that he personally has a $1,000,000 net worth. Please provide a short legal summary for your client, Mr. Jenkins, that explains to him the differences between using the partnership, LLC and corporation forms of business for his future technology company. Your analysis should pay attention to 1) the ability to obtain funding if the business needs cash; 2) management and control of the company; 3) exposure to liability from lawsuits and creditor claims; and, 3) taxation. What are the advantages and disadvantages of each business type for Mr. Jenkins? Which one do you recommend for him in light of his particular situation? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS P Paragraph Arial 10pt !!! 0 WORDS POWERED BY TINY