Question: Need help with this assignment. Based on your understanding of various business formations, read the hypothetical below and answer the questions that accompany it. You

Need help with this assignment.

Based on your understanding of various business formations, read the hypothetical below and answer the questions that accompany it.

You and your best friend are entrepreneurs. Your goal is to set up a business that sells the most delicious tacos in the city!

    • Discuss what type of business organization would be the best for you to utilize and why. Your explanation should include the reasoning behind choosing one over another (taxes, liability, etc.).
    • What benefits do you/does your business receive as a result of your decision?
    • What are the potential downfalls?

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