Fact Pattern 37-1 Ann Starts Up Bowls Bistro to Serve and Sell Soups

question 28

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.

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Definitions:

Normal Distribution

A bell-shaped frequency distribution curve where most of the occurrences take place around the central peak and the probabilities of values further away from the mean taper off equally in both directions.

Food Production

The processes involved in generating food products for consumption, including agriculture, livestock breeding, and aquaculture.

Efficiency

The ability to accomplish a job with a minimum expenditure of time and effort, or the ratio of the output to the input of any system.

Sustainable

The practice of using natural resources in a way that maintains ecological balance and ensures availability for future generations.