7. Paying all the expenses of a new business Exercise 7 Mary Bonoan, Tony Cruz, and Helen Santos were classmates who graduated for a private school in Davao City. Upon graduation they decided to start a cosmetics manufacturing firm, which they had studied in their courses in small business management. Their products included all the standard creams, lotions, hair products, lipsticks, and other items included in most complete lines of cosmetics. The trio planned their operation well, had no problems in raising the capital needed, made arrangements to rent store in Gaisano Mall, and established contacts with several distributors. On all these matters they were in complete agreement. Only on the matter of choosing a legal form or organization for the business did they have serious differences. The issues of liability, cost of organization, details of a partnership agreement, corporate regulation by the government, and so on, all resulted in confusion and disagreement.

which legal form or organization would you recommend for this particular business firm and why?​