1. aylor has always loved cars. They have worked on their own cars over the years, including doing regular maintenance, doing certain modifications, and repairing them when needed. Taylor has a full-time job, but decides to start offering his services as a person knowledgeable in cars to his friends and family. Taylor starts to tell family and friends that he will provide maintenance, modification, and repair services to them for their cars. Some of Taylor's friends provide their cars to Taylor to do repairs in exchange for cash. Taylor does this work from the garage next to Taylor's house.
2. What form of business organization is Taylor carrying on, and what are its essential characteristics?
3. What are the potential benefits to Taylor in carrying on business using this type of business organization?
4. What are the potential downsides for Taylor in carrying on their business in this form of business organization?
5. What other form of business organization could Taylor consider in carrying out their business?
6. What could motivate Taylor to change the form of business they are carrying on into the one in question d. above?

Answer rating: 100% (QA)

Based on the description provided it seems like Taylor is operating as a sole proprietor Lets explore the characteristics potential benefits downsides ... View the full answer