PLEASE COMPLETE WITH AT LEAST 325 WORDS.APA FORMAT
This week’s material deals with, among other things, the subject of partnerships and partnership accounting. While the accounting is relatively straight forward, the subject of partnerships themselves can be very expansive.
Picture if you will two sisters that want to start a business together. Sister “A” brings to the table technical knowledge and contacts with potential customers. Sister “B” brings to the table the physical facilities to make the product and the cash required to get their business of the ground. Based solely on this information, would you recommend the sisters start a general partnership or a traditional C-Corp together, and why?
No other options are available to you for purposes of this question. LLCs, LLPs, S-Corps etc. don’t count, and if you ignore this requirement and select an LLC or LLP or S-Corp regardless I’ll deduct 6,521 points from your final grade!