Abby starts up Bowls Bistro to serve and sell soups for workday lunches. Abby leases space in an office building owned by Carmen. The lease requires Abby to pay Carmen a base rental of $1,250, plus 10 percent of Bowls Bistro's profits, each month. The term is two years. Abby hires Devin to take and fill customers' orders at an hourly wage of $15.00, plus tips. ?Abby and Carmen are
A) not
partners, because Carmen does not have an ownership interest or management rights in Bowls Bistro.
B) not partners, because the lease includes a "base rental."
C) not partners, because the rent includes only 10 percent of the profits.
D) partners in a partnership for two years.
A
You might also like to view...
A note with an explicit interest rate stated on the face of the note is a(n) ____________________
Fill in the blank(s) with correct word
What generates feelings of anger, disgust, fear, happiness, and sadness in us and how expressively we display them are affected, in part, by which of the aspects of our culture?
A. the location B. the country of origin C. our culture’s primary religion D. rules and norms
What do you understand by the term market partitioning?
What will be an ideal response?
A company's month-end adjusting entry for Insurance Expense is $1,000. If this entry is not made then expenses are understated by $1,000 and net income is overstated by $1,000.
Answer the following statement true (T) or false (F)