1. Monique and the Food Truck Monique is a recent graduate of Temple University. She has earned a degree in hospitality management and is currently pursuing a master's degree in marketing. She recently started a food truck business serving tacos and burritos on Temple's campus. She's considering forming as a sole proprietor. Discuss the advantages and disadvantages of forming as a sole proprietorship. Should Monique form as a sole proprietorship? Why or why not. 2. Monique and the Partnership At a recent networking event held in the city, Monique met two business-savvy individuals, Jackson and Liz. Both are graduates of University of Pennsylvania's Wharton School of Business. Liz has $20,000 that she is willing to invest in Monique's taco/burrito truck business. Jackson, has no capital to invest, but is willing perform all the accounting and finance responsibilities for Monique's business. In this scenario Monique decides that a partnership makes sense, but needs to determine who to partner with and how to structure it. Discuss the difference between the general and limited partnerships. Should Monique form the business as a general partnership or a limited partnership, and who should be a part of the partnership you've selected? 3. Company Growth Business is booming! Monique's company has experienced tremendous growth in its first two years. The business is currently formed as a partnership, however, she needs more capital to expand. She's even considering renting space and opening a physical restaurant. Her tacos and burritos are that good! The company now employs 25 people and Monique is investigating changing her business structure from a partnership to a corporation because she's interested in raising more capital without taking on more debt. She's not sure whether she should form as an S corporation or a C corporation. Discuss the major differences between these forms and advise Monique on which one you think makes the most sense and why?