Specifically, the following critical elements must be addressed

ACC 630 Milestone One Kroger Company

Business Entities Partnerships and Corporations

Assume your company is invplved in a major lawsuitand the probable damages are estimated to be 2,000,000

A. Describe the effects of the damage estimates would have on the financial statements of the corporation and a partnership.

B. How do disclosure requiremnts differ from a corporation to a partnership and what information is required?

C. Are the shareholders at risk for any personal liability with the company set up asa corporation? Defend your response.

D. If your company was set up as a partnership, would the partners be at risk for personal liabilty? Defend your response