-27 Encik AB - Partnership 10 mins Encik AB operated a barber shop. He recruited three individuals as barbers, paid each of them a small monthly allowance and provided board and lodging to them. At the end of the year after deducting operating expenses from the gross revenue ("the balance"), AB would draw 70% of the balance as salary and distribute the remaining 30% as "share of profits' to the three individuals. The above arrangement is verbally agreed between AB and the others. Required Explain whether a partnership exists under the above arrangement