Question: Assume that John, James, and Jane are considering creating a legal business entity to develop and market their idea for a web application. Recommend the

Assume that John, James, and Jane are considering creating a legal business entity to develop and market their idea for a web application. Recommend the most appropriate type of business activity (i.e., a general partnership, a limited liability partnership, or a limited liability company) for them to form. Provide a rationale for your response.
Determine the main purpose of a statement of realization and and discuss the major information that the primary parties can gain from a statement of realization and in order to grasp the major events of the process. Next, suggest the most critical information to disseminate to the partners and creditors during Justify your response.

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