You are a partner in a small accounting firm. Your client, Winsome Walsh, has sought your advice on starting two new businesses. One business she will start alone, and the other she will start with her sister Willow Walsh. She wants guidance on which form(s) of business to adopt. Required: Draft a detailed business letter discussing the options available to Winsome. The letter should be professional and complete, and it should present all the attributes of the different forms of business. 2. A new group of recruits is starting work at your accounting firm. You would like to provide them with guidance on some accounting fundamentals. Draft a detailed memo addressing the following fundamentals of accounting. Your memo should thoroughly explain these concepts and, where appropriate, provide real-world examples of how these fundamentals can be applied. a. Managerial and financial accounting. b. The accrual and cash method of accounting c. The four basic financial statements. d. The three primary business activities. e. The rules and governing bodies that regulate financial accounting. f. The cost principle, the entity principle, the monetary unit principle, and the going concern principle. g. The significance of the basic accounting equation. The memo should be professional and detailed.