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problem1. Troy and Tricia are starting a pharmacy. After meeting with their attorney and accountant, they decide they desire to begin using the simplest form of business organization they can. But their primary concern is personal liability. They don't desire to jeopardize their personal assets for business obligations. They'll also need to acquire financing to get the business started. A few investors have expressed some interest, but they'll invest their money only if they receive some stake in the business or some possibility of return for their investments. The investors desire to have no part in running the business and want to be sure they have no liability for business debts. What form f business organization would you recommend? Describe why other forms of business organizations wouldn't meet their needs?

problem2. Discuss the mirror-image rule, specifically stating what the rule means. Then give a set of circumstances in which the mirror-image rule would apply.

problem3. Abraham and Jill have a dispute and wish to settle it devoid of litigation. They're considering mediation or binding arbitration. Discuss and compare the features of these two forms of alternate dispute resolution.

Financial Accounting, Accounting

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