Multiple Choice
Fact Pattern 37-1
Ann starts up Bowls Bistro to serve and sell soups and salads. Ann leases space in an office building owned by Carly. The lease requires a base rent of $1,250, plus 10 percent of Bowls Bistro's profits, each month. The term is two years. Ann hires Demi to take and fill customers' orders at an hourly wage of $15.00, plus tips.
-Refer to Fact Pattern 37-1. Ann and Demi are
A) not partners, because Demi does not have an ownership interest or management rights in Bowls Bistro.
B) not partners, because the pay includes an hourly wage.
C) not partners, because the pay includes only 10 percent of the profits.
D) partners in a partnership.
Correct Answer:

Verified
Correct Answer:
Verified
Q16: Olivia is a partner in Pacific Traders.
Q23: Fact Pattern 37-3<br>Bryn, Cornell, and Duke are
Q24: Delany and Efron want to form a
Q25: Limits on a partner's authority normally are
Q27: In a general partnership, the senior partner
Q29: Fact Pattern 37-2<br>Kristin and Lindsey are partners
Q30: Luke and Maya form Northeast Air Express,
Q31: Generally, each state limits the liability of
Q32: In a limited partnership, a general partner's
Q33: A partnership is a pass-through entity and