Your client through YOUCPA—a 50-year-old owner of a firm—has requested that she become a sole proprietorship in the state. The owner does not like paperwork and reporting of information. Her goal is...

ACCT460-1204A-01 Professional AccountingAssignment Name:Unit 4 Discussion BoardDeliverable Length:250 wordsDetails:Your client through YOUCPA—a 50-year-old owner of a firm—has requested that she become a sole proprietorship in the state. The owner does not like paperwork and reporting of information. Her goal is to keep the business simple for her. The firm will have losses in the early years. However, you forecast steady profits for the firm after the 3rd year. She is contemplating passing on the firm to her son, Kate. After looking at this situation, you are contemplating recommending that she form a limited liability corporation (LLC). Describe the advantages of each of the following: A sole proprietorship A limited liability corporation Do you recommend that this client choose an LLC or not? Explain your rationale.Grading Criteria25%Describe the advantages of a sole proprietorship.25%Describe the advantages of a limited liability corporation.25%Do you recommend this client for an LLC or not?25%Explain your rationale. Objective:? Develop a thorough understanding of accounting standards and principles. ? Fulfill the core accounting educational requirement to sit for the CPA exam. ? Prepare to practice in public and private accounting position. ? Advance to a higher professional level.