Tutoring Concerns

question 5

Multiple Choice

Tutoring Concerns.Wally and Sally want to go into business together and plan on offering a tutoring service to high school and college students.Wally proposes that they share control of the business and split profits equally and not bother with a written agreement.Sally,however,is concerned about being able to pay their debts because they will have to rent tutoring space and purchase computers and supplies.She is also concerned about parents and students who may sue if the students' test scores do not improve.She tells Wally that she just bought a new boat and car,and that she does not want her assets to be in jeopardy.She tells Wally that they should form a corporation to shield their personal assets.Wally,however,says their personal assets are not in danger with his proposal because they are a business and that,furthermore,forming a corporation would likely result in double taxation.What type of arrangement did Wally propose with his suggestion that they share control of the business and split profits equally?

Definitions:

Schizophrenia

A complex psychiatric disorder that affects a person's ability to think, feel, and perceive reality.

Testify

To make a statement based on personal knowledge or belief, usually in a court of law, under oath.

Adequate Examination

A thorough and competent evaluation or assessment, often in a medical or academic context.

Professional Opinion

A professional opinion is a judgment or recommendation provided by someone who has expertise in a specific field.