1. You have decided that Jess should use a proprietorship for her business form.

1. Why would you recommend it? Provide two reasons why this might make the most sense for her.
2. What are some of the differences that would make a proprietorship more suitable than a partnership or corporation, at least at the onset? Provide at least three reasons differences.

1. Will Jess need accounting information?
   1. If yes, what information will she need and why? Remember, she is a small business, so think about what will be most important to her.
   2. How often will she need this information?

2. In addition to Jess, who do you anticipate to be the users of Okanagan Smoothies accounting information? What information will these identified users need and why? Remember Jess is just a small business, so make sure your answer is applicable to her business.

3. Identify specific asset, liability, and equity accounts that Okanagan Smoothies will likely use to record its business transactions. Remember that equity includes revenue and expense accounts.

4. Jess already has a personal bank account. Should Okanagan Smoothies open a separate bank account for its business?