In Which of the Following Situations Would the Persons Be

question 47

Multiple Choice

In which of the following situations would the persons be partners?

• A)A and B jointly own shares of the capital stock of a corporation, have a joint bank account, and have purchased real estate as tenants in common.They share the dividends on the stock, the interest on the bank account, and the net proceeds from the lease of the real estate.
• B)A and B buy and sell real estate continuously over a five-year period, conducting a business of trading in real estate.They do not consider themselves partners.
• C)A, B, and C each inherit an undivided one-third interest in a restaurant and decide to sell it because the market is such that they are assured a good price.
• D)All of these.

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Definitions:

Vegan Restaurants

Eating establishments that exclusively serve plant-based foods, avoiding all animal products.

RAM

Random Access Memory, a form of computer memory used to store data temporarily that is being currently used or processed.

Volatile

In computing, refers to memory that requires power to maintain the stored information; it loses its contents when the power is turned off.

Plugin

Software that adds specific features or functionalities to an existing computer program, often to customize or enhance performance.