Sam Jones, Mary Adams, and Larry Brown have been talking about starting their own business for several years. It will cost $100,000 to start this business. If they form a partnership, how would you recommend that they organize? Joe Latte completed a business plan and determines that it will take $120,000 to open a coffee and gelato shop. He has $30,000 of his own money and will have to obtain $90,000 in loans or grants. How should Joe go about getting financing. What is the probability that he can obtain a grant to start a combination coffee and Italian ice cream shop?
Sam Jones, Mary Adams, and Larry Brown have been talking about starting their own business for several years. It will cost $100,000 to start this business. If they form a partnership, how would you recommend that they organize? Joe Latte completed a business plan and determines that it will take $120,000 to open a coffee and gelato shop. He has $30,000 of his own money and will have to obtain $90,000 in loans or grants. How should Joe go about getting financing. What is the probability that he can obtain a grant to start a combination coffee and Italian ice cream shop?
Chapter13: Choice Of Business Entity—general Tax And Nontax Factors/formation
Section: Chapter Questions
Problem 76TPC
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Question
![Sam Jones, Mary Adams, and Larry Brown have been talking about
starting their own business for several years. It will cost $100,000 to
start this business. If they form a partnership, how would you
recommend that they organize?
Joe Latte completed a business plan and determines that it will take
$120,000 to open a coffee and gelato shop. He has $30,000 of his own
money and will have to obtain $90,000 in loans or grants. How should
Joe go about getting financing. What is the probability that he can
obtain a grant to start a combination coffee and Italian ice cream shop?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F489bc5ae-22a9-4f52-974d-9fbecafa97cd%2F45f02467-931b-416a-8cb9-3ef582b06be1%2Fxga93p7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Sam Jones, Mary Adams, and Larry Brown have been talking about
starting their own business for several years. It will cost $100,000 to
start this business. If they form a partnership, how would you
recommend that they organize?
Joe Latte completed a business plan and determines that it will take
$120,000 to open a coffee and gelato shop. He has $30,000 of his own
money and will have to obtain $90,000 in loans or grants. How should
Joe go about getting financing. What is the probability that he can
obtain a grant to start a combination coffee and Italian ice cream shop?
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