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Change in business organization Good Bran is a sole proprietary business, run by Mr Lee...

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Accounting

Change in business organization

Good Bran is a sole proprietary business, run by Mr Lee and his two sons, Kwang Soo and Do Hyun. Recently, the business is expanding rapidly due to the high awareness of a healthy lifestyle among the public. However, the business is struggling to fulfill the demand because it is not well equipped to produce the wheat bran in a high volume. Kwang Soo and Do Hyun persuaded their father to incorporate the business as a company so that it can have better access to the credit market. Mr Lee was reluctant to his sons suggestion. Why do you think that Mr Lee is not keen to incorporate Good Bran as a company?

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