Heather & David Interior Design Heather and David are old friends. They met at Scarbonia High School and then they attended Scarbonia University together. Heather studied Art History and then has been working for the past five years, for a textile manufacturing business. David studied Graphic Desig at university. He then worked for a firm of architects for three years, before joining a wooden furniture manufacturing business. There, oversees the design of wooden tables and chairs. After discussing the idea for a couple of months, Heather and David decide that it would be really fun to work together. They are old friends, and they have complementary skills and experience. They believe there is market for a small business which provides home decorating and interior design advice. Heather's parents are prepared to lend her $25,000 to help with the start-up. David recently inherited $20,000 from his grandmother. Their planning suggests that, together, they have more than enough capital to get the business up and running. Since there will just two owners, and the business will be relatively uncomplicated, they decide to establish the business as a general partnership Their friend Stephen, who has taken a number of courses on business and management, says to the pair, "If you two are going to start your business as a general partnership, I would strongly advise you to sign a partnership agreement". Explain: i) Exactly what Stephen mear when he says this: 3 marks and ii) Why this is good advice to have given to his pair of entrepreneurial friends. 2 marks N.B. This question is worth multiple marks, you must answer it as comprehensively as you can. You must thoroughly demonstrate your knowledge and understanding of the relevant theories, concepts, and principles. Show us what you know! A partial answer will receive only part marks