Discuss the importance to a small business for maintaining complete and accurate financial statements

Answer the questions below at least 150 words each. APA

1.Select a small business that operates within your town and evaluate what form of business organization you would use assessing the pros and cons of that form of business entity.

2.Discuss the importance to a small business for maintaining complete and accurate financial statements and the role they play in identifying liquidity, activity, leverage, and profitability.

3.Select an industry with small business and discuss the effects the economy has on that industry. Do not select the same industry that someone else has already chosen.

What steps can a company in your chosen industry take to reduce costs and increase profits to increase efficiency and improve their break even position?