Joanna Volescu, a friend from college, approaches you about forming a partnership to export software. Since graduation,

Question:

Joanna Volescu, a friend from college, approaches you about forming a to export software. Since graduation, Joanna has worked for the World Bank, developing important contacts among government officials and business leaders in Poland and Hungary. Joanna believes she is in a unique position to capitalize on expanding markets. With your expertise in finance, you would have responsibility for accounting and finance in the the advantages and disadvantages of organizing the export business as a rather than a proprietorship. Comment on the way income is taxed.
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...