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You are working as an accountant. Your friend, Pam, is planning to open a shop on Amazon and eBay. She is confused about structures and

You are working as an accountant. Your friend, Pam, is planning to open a shop on Amazon and eBay. She is confused about structures and asks your advice. She plans to involve her best friend, Mimi, as a manager/partner/shareholder. Pam does not know, whenever she should trade as a sole trader, partner or establish a Pty Ltd company. Which type of entity would be the most beneficial? Briefly explain to Pam the nature of all three options, including their advantage and disadvantages

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