Question
Lori and her friend, Anne work at Cakecups, which is a bakery/coffee shop, where they baked cakes. Unfortunately, Cakecups had to close due to the
Lori and her friend, Anne work at Cakecups, which is a bakery/coffee shop, where they baked cakes. Unfortunately, Cakecups had to close due to the Covid-19 pandemic, and Lori and Anne were laid-off. Lori and Anne decided to start baking cakes at home and started a website where they would ship cakes on order. They get a few orders in the first month but do not make a profit after paying for their supplies. What kind of business, if any, do Lori and Anne have?
Group of answer choices
a. Lori and Anne are not in a business because they have not made a profit.
b. Lori and Anne are in a partnership, because there are two of them.
c. Lori and Anne have a sole proprietorship.
d. Lori and Anne are partners because they are carrying on business with a view to a profit.
e. Lori and Anne are partners, but Lori is a limited partner, while Anne is a general partner.
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