John Bloomberg and Erick Ashman Have Been Working Together to Earn

question 60

Multiple Choice

John Bloomberg and Erick Ashman have been working together to earn money by doing yard work in residential areas.John collects the payments and has purchased the equipment the two use,including a lawn mower,edger,and trimmers.After deducting expenses for gasoline,repairs,and insurance,John gives one-half of the net to Erick.The two have no agreement about their relationship.Which of the following is correct?

• A)John and Erick have a general partnership.
• B)John and Erick have a limited partnership.
• C)John and Erick have a joint venture.
• D)John and Erick have no business structure because they have no agreement.

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Definitions:

Anode

Positive electrode.

Cathode

Negative electrode.

Diode

A two-terminal, solid-state, semiconductor device that allows current flow in one direction only. Acts like a sort of electrical one-way check valve.

Graphical User Interface (GUI)

The menu-driven display screen used in Windows-driven software.