Abby starts up Bowls Bistro to serve and sell soups for workday lunches. Abby leases space in an office building owned by Carmen. The lease requires Abby to pay Carmen a base rental of $1,250, plus 10 percent of Bowls Bistro's profits, each month. The term is two years.
Abby hires Devin to take and fill customers' orders at an hourly wage of $15.00, plus tips. 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.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Abby starts up Bowls Bistro to serve and sell soups for workday lunches. Abby leases space in an office building owned by Carmen. The lease ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Clarence Trucking Inc. purchased a new truck on January 1 of the current year for $360,000. Its useful life is expected to be 8 years and its salvage value is estimated at $60,000. The company uses the double-declining balance method.
Answers (1)
Suppose that Rosa is considering migration to another country. To move, she will have to spend $5,000 on transportation and $4,000 in application and other processing fees. Rosa's stream of future earnings in her home country is $500,000.
Answers (1)
Suppose the tax rate is 0 on the first $20,000, 20 percent on the next $20,000, 30 percent on the next $20,000, 40 percent on the next $20,000, and 50 percent on all income over that. The Valenzuela family has an income of $80,000.
Answers (1)
What is the largest level of organization for the environment?
Answers (1)
The materials price and efficiency variances could be an indication that the company purchased less expensive ingredients of higher ​ quality, which resulted in more than the standard number of rejected units.
Answers (1)
New Questions in Business
You are employed as an administrative staff member of a community healthcare office that just opened last month. you and your manager are working hard to advertise and expand the customer base.
Answers (1)
The following costs result from the production and sale of 4,450 drum sets manufactured by Tight Drums Company for the year ended December 31, 2019. The drum sets sell for $295 each. The company has a 30% income tax rate.
Answers (1)
The person who receives financial protection from a life insurance plan is called a what?
Answers (1)
In 1990, Roche, a Swiss pharmaceutical company, initially invested $2.1 billion to purchase a controlling interest in the biotech startup Genentech.
Answers (1)
Five years ago, Weed Go Inc. earned $1.50 per share. Its earnings this year were $3.20. What was the growth rate in earnings per share (EPS) over the 5-year period? Group of answer choices a. 18.94% b. 18.04% c. 16.36% d. 17.18% e. 15.54%
Answers (1)