WGU D078 Task 2 – Business Environment Applications Legal
and Ethical Considerations | Verified study complete Solutions
| A+ Graded | 2026 Updates | 100% correct
Name:
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Task 2: Legal and Ethical Considerations
A. 1 Compare two of the proposed legal entity types for the farmer’s market venture by doing
the following:
General partnerships are formed when two or more persons agree to share profits and losses in
a joint venture. The first legal entity I propose for the farmers market is a general
partnership. I think a general partnership works well because each individual can focus on
their strengths. The retailer and farmer will operate under their own accord, they will be a
separate departments carrying out terms agreed upon amongst each other. They will be
under contractual agreement to ensure terms are met, the company itself does not file
taxes.
Taxation – In a general partnership each party will file taxes as partners documenting their
profits and losses on their personal taxes.
Liability – Each of the owners will share liability. This includes financial liabilities as well as any
other legalities.
Ownership and Control – Ownership and control can be agreed upon owners through written
agreement.
2. A Llc (limited liability company) would also be ideal. While benefits are similar, there’s no
obligation for owners to be managers and liability is limited. A LLC is a hybrid form of
business entity that provides limited liability to owners and may be treated as a partnership
for tax purposes. The farmer and retail departments could work separately together to be
more efficient.
Taxation – Can be taxed as a company or a partnership for tax purposes. This prevents double
taxes being paid.
Liability – With a Llc members personal assets are protected if the company sinks. There is
limited liability for owners.
Ownership and Control – Shared amongst owners in there agreed upon manner. The farmer
and retailer can split ownership however they see fit for business. The retailer can be an
owner and decide to work within the parameters of the agreement as to the farmer can
operate within his rightful position. B.
1
and Ethical Considerations | Verified study complete Solutions
| A+ Graded | 2026 Updates | 100% correct
Name:
Student ID (STUID):
Task 2: Legal and Ethical Considerations
A. 1 Compare two of the proposed legal entity types for the farmer’s market venture by doing
the following:
General partnerships are formed when two or more persons agree to share profits and losses in
a joint venture. The first legal entity I propose for the farmers market is a general
partnership. I think a general partnership works well because each individual can focus on
their strengths. The retailer and farmer will operate under their own accord, they will be a
separate departments carrying out terms agreed upon amongst each other. They will be
under contractual agreement to ensure terms are met, the company itself does not file
taxes.
Taxation – In a general partnership each party will file taxes as partners documenting their
profits and losses on their personal taxes.
Liability – Each of the owners will share liability. This includes financial liabilities as well as any
other legalities.
Ownership and Control – Ownership and control can be agreed upon owners through written
agreement.
2. A Llc (limited liability company) would also be ideal. While benefits are similar, there’s no
obligation for owners to be managers and liability is limited. A LLC is a hybrid form of
business entity that provides limited liability to owners and may be treated as a partnership
for tax purposes. The farmer and retail departments could work separately together to be
more efficient.
Taxation – Can be taxed as a company or a partnership for tax purposes. This prevents double
taxes being paid.
Liability – With a Llc members personal assets are protected if the company sinks. There is
limited liability for owners.
Ownership and Control – Shared amongst owners in there agreed upon manner. The farmer
and retailer can split ownership however they see fit for business. The retailer can be an
owner and decide to work within the parameters of the agreement as to the farmer can
operate within his rightful position. B.
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