Three friends, louise, marcia, and rebecca are interested in going into business together. louise will contribute her full efforts on a daily basis but has limited funds to invest in the business. marcia will fund the venture but wants to limit her liability to her initial investment and has no interest in the daily operations. rebecca will be involved as an active consultant and manager and will also contribute funds. louise and rebecca are willing to accept liability for the firm's debts as they feel they have nothing to lose by doing so. all three individuals will share in the firm's profits and wish to keep the initial organizational costs of the business to a minimum. based on this information, what form of business entity seems most appropriate for louise, marcia and rebecca?

Ann and jack have been partners for several years. their​ firm, a​ & j tax​ preparation, has been very​ successful, as the pair agree on most​ business-related questions. one​ disagreement, however, concerns the legal form of their business. for the past two​ years, ann has tried to convince jack to incorporate. she believes that there is no downside to incorporating and sees only benefits. jack strongly​ disagrees; he thinks that the business should remain a partnership forever. ​ first, take​ ann's side, and explain the positive side to incorporating the business. ​ next, take​ jack's side, and state the advantages to remaining a partnership. ​ lastly, what information would you want if you were asked to make the decision for ann and​ jack? which of the following statements are the advantages of a partnership compared to a​ corporation? ​(choose all that​ apply.) a. less expensive to organize. b. ownership is readily transferable. c. lower income taxes. d. owners have limited liability. e. long life of firm.