Refer to Fact Pattern 27-1

question 68

Multiple Choice

Refer to Fact Pattern 27-1. 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.

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Definitions:

Shipped Goods

Items that are transported from one location to another, typically through the mail or a delivery service.

Signature

A person's name or mark written by themselves, often used to indicate agreement with the contents of a document.

Authenticate

(a) to sign; or (b) with the intent to sign a record, otherwise to execute or adopt an electronic symbol, sound, message, or process referring to, attached to, included in, or logically associated or linked with, that record.

Seal

A mark or impression placed on a written contract indicating that the instrument was executed and accepted in a formal manner.