Homework: Entity Formation
Carla plans to open Carla's Pets Store, a pet sales and pet supplies outlet, and to hire Quimby and Ruth. Carla will invest only her own money. She does not expect to make any profit for at least two years and to make almost no profit for the first three years, but she hopes to expand eventually.
1. Which form of business organization would be most appropriate?
2. What are the main characteristics, advantages, and disadvantages of this form of business organization?
3. If Carla wants to obtain additional capital to expand the business, but does not want to lose control of the company, what is her best option?
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.