QUESTION $15$

$10$ points

Mookie plans to open Mookie's Pets, a pet sales' and supplies outlet, and to hire Quantas and Ruby. Mookie will invest only his own money and does not expect to make any profit for at least two years, and to make almost no profit for the first three years, but he hopes to expand eventually. Which form of business organization would be most appropriate? What are the chief characteristics, advantages, and disadvantages of this form of business organization? If Mookie wants to obtain additional capital to expand the business, but does not want to lose control of the firm, what is his best option?