Business, Duties, and Ethics

Overview

This assignment aims to research the different types of business organizational formations, compare management practices and corporate governance, and determine how ethics, the duty of care, loyalty, and “business judgment rule/piercing the corporate veil” are applicable.

Instructions

Using attached powerpoints and additional research, address the following in a 5–7 page paper:

1. Research the different types of business organization formations and determine which is best to avoid liability when starting your own accounting firm. Support your determination with evidence.

2. Compare and contrast the fiduciary duties partners owe to each other in a limited liability partnership. 

2a. Include an example of how each can be breached and explain how the Systematic Approach is best when facing an ethical dilemma.

3. Explain your understanding of the Business Judgement Rule. Using the Nexis-Uni Database, research a lawsuit example that helps demonstrate the application of the rule. In your answer, provide the facts of the case and the decision by the court.

4. Use at least three quality sources to support your writing.