Exercise 3 E12-1 Presented below are three independent situations: 1. Angelique Gloss and David Deutsch, two students looking for summer employment, decide to open a home meal replacement business. Each day, they prepare nutritious, ready-to-bake meals, which they sell to people on their way home from work. 2. Joe Daigle and Cathy Goodfellow own a ski repair business and a ski shop, respectively. They have decided to combine their businesses. They expect that in the coming year they will need a large amount of money to expand their operations. 3. Three business professors have formed a business to offer income tax services to the community. They expect to hire students during the busy season. 4. Myles Anawak would like to organize a company that buys and leases commercial real estate. Myles will need to raise a large amount of capital so that he can buy commercial property for lease. Instructions In each of the above situations, explain whether the partnership form of organization is the best choice for the business. Explain your reasoning