Question 1Mr. Chan is now working as a catering manager. He is going to establish his own business in the form of sole proprietorship by purchasing an existing restaurant. Due to insufficient set-up capital, he considers to form the company in partnership. (a)Discuss any THREE advantages and any THREE disadvantages of sole proprietorship.(b)Describe the partnership in terms of no. of partners and liability. (c)Describe any THREE disadvantages of partnership.Mr. Chan invited Crystal and Sammi to be the partners. Crystal is responsible for all marketing matters of the restaurant and always stays in the back office. Sammi only invests $100,000 into the restaurant and would not be responsible for any loss beyond that amount.(d) Name the types of partner for Crystal and Sammi. Briefly explain their (12 marks) responsibilities and liability.Question 2Nowadays, more and more companies offer assistance in solving social problems in addition to making profits. Some believe that it is their responsibility to do so while others think that it is good for their long-term profitability. We call this model CSR. (a) Name CSR in full.(b) Discuss the TWO different views on CSR.(c) Identify the SIX groups of stakeholders involved in CSR. Explain TWOsocial responsibilities from business for each group of the stakeholders.(d) Discuss the THREE possible methods which can be used to encouragepeople’s concern for environment.