(Solution) - Twenty years ago the accounting partnership of Stevens Thomas -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Twenty years ago, the accounting partnership of Stevens, Thomas & Ginsburg became a professional corporation. They were the first in their area to make this change, and they sometimes bragged about how farsighted they were. Recently, their state passed an LLC statute. Many accountants are becoming LLCs, but not Stevens, Thomas & Ginsburg. What is holding this farsighted firm back?