question archive Andy wants to open a new business
Andy wants to open a new business
Subject:BusinessPrice: Bought3
Andy wants to open a new business. He is considering to open a partnership or a company. You are required to:
(a) Explain to him the nature of each style of business from the aspects of formation, liability and others.
(b) Explain to him in what circumstances a shareholder or director will be responsible for company's debts, should he choose to open a company.
• Differentiate between partnership and company
• Discussion on lifting corporate veil and examples of it
