If Margo and Bruce Purchase and Operate an Ice Cream

question 39

True/False

If Margo and Bruce purchase and operate an ice cream store, for tax purposes they have formed a partnership.

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Definitions:

Bicameral Legislature

A legislative body consisting of two separate chambers or houses, typically an upper and a lower house, each with distinct powers and responsibilities.

Executive Branch

The branch of the United States government responsible for enforcing laws; it is led by the President and includes the cabinet and federal agencies.

Articles of Confederation

The Articles of Confederation served as the first constitution of the United States, providing a framework for national government before being replaced by the U.S. Constitution.

Second Continental Congress

A convention of delegates from the Thirteen Colonies that started meeting in 1775, during the American Revolution, which eventually declared independence from Britain.