Angela Paulino, a native of Cebu, is a graduate of culinary arts and works as a baker in Chicago, USA. After working for ten years she was able to save P500,000. She decided to go back to Cebu and put up her own bake shop called Angie's Bread, Cakes and Pastries or simply ABCP

a. What form of business did she put up?

b. What is the type of operation?

c. Other than for profit, explain why people engage in business

Angela was not contented with the bakeshop. Since teaching children was her first love she wants to put up a nursery school, as well. She remembered her friend, Jean Romasanta, a nursery teacher in Chicago. Jean agreed to come home to the Philippines and set up a nursery school with Angela. They need about P2,000,000 to start the school but both their savings amounted only to about P1,000,000. They also know little about marketing and finance: Beth Salvador is a business graduate and knows about marketing and finance. They asked her to join them and Beth also agreed to invest another P500,000.

a. What is the form of business organization the three friends plan to set up? 

b. What type of operation is this? 

c. Where can they go for added financing? Name as many possible sources