John and Peter Purchased a Joint Interest in a Five-Acre

question 27

True/False

John and Peter purchased a joint interest in a five-acre campground with a variety store and mini-golf course and retained the existing manager to handle day-to-day operations.From time to time they made improvements to the site and each year they divided the profits (or losses)from the campground equally between the two of them.
-John and Peter are partners.

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