$1.$

Ben, who runs a livestock breeding business, owes the Circle C Ranch $$40,000.$ Ben agrees to

pay the Circle C a percentage of his profits each month until the debt is paid. Because of this

agreement, the Circle C is

A$.$ neither Bens creditor nor his partner

B$.$ Bens creditor only

C$.$ Bens creditor and partner

$2.$

Grady and Hedy do business as Island Tours. For federal income tax purposes, Island Tours

would be treated as

A$.$ a natural person

B$.$ an entity

C$.$ a non$-$existent party

D$.$ an aggregate of the individual partners

$3.$

Kutse and Atsu decide to do business as Marketing & Promotion Services. To be a

partnership, this association can result from an agreement that is

A$.$ written, but not from an agreement that is oral or implied

B$.$ express, but not from an agreement that is implied

C$.$ oral, written, or implied by conduct

D$.$ implied, but not from an agreement that is express

$4.$

Afia and Akosua do business as Personnel Partners. In Ghana, for purposes of suing and

being sued, Personnel Partners would be treated as

A$.$ an entity

B$.$ a natural person

C$.$ a non$-$existent party

D$.$ an aggregate of the individual partners

Question $5$ of $120$

$1$ Points

Denise and Elke do business as Final Curtain Decorators. In most states, for purposes of

holding title to property, this partnership would be treated as

A$.$ an aggregate of the individual partners

B$.$ a non$-$existent party