Part C 10 marks Only answer ONE of the following questions: Answer in your word document 1. Katy and Perry decide to establish a bakery business called Exquisite Buns. Katy is a trained baker, while Perry has some accounting skills. Due to renovation costs to the leased shopfront, they had to borrow $50,000 from Laurence, a very experienced businessman. Laurence agreed to help manage the business but stated that once he had been repaid in full by sharing the profits equally, he would leave Katy and Perry to run the business by themselves. At first, business thrives due to Laurence's expert guidance. Then Katy orders very expensive baking trays and a commercial refrigerator from Kitchen Supplies Pty Lid Is the relationship between Laurence, Perry and Katy a partnership? Explain the reasoning behind your answer. (10 marks) 2. Harold offered a reward of $1,000 to anyone who could give information that would lead to a conviction of the person or persons who had broken into his home and stolen his cricket memorabilia collection. Charles was a police officer in the local district, and during the course of his investigation, he was able to provide the information that led to the capture and conviction of the thief. Advise Charles as to whether he is eligible to recover the reward. (10 marks) Student Declaration You must not answer here. Your answers must be created in a word doc. and uploaded via the 'Submit Final Exam to Turnitin'. Upon uploading please answer the following question I have submitted my answers through the Turnitin link True Type here to search O 6 WPart C 10 marks Only answer ONE of the following questions: Answer in your word document 1. Katy and Perry decide to establish a bakery business called Exquisite Buns. Katy is a trained baker, while Perry has some accounting skills. Due to renovation costs to the leased shopfront, they had to borrow $50,000 from Laurence, a very experienced businessman. Laurence agreed to help manage the business but stated that once he had been repaid in full by sharing the profits equally, he would leave Katy and Perry to run the business by themselves. At first, business thrives due to Laurence's expert guidance. Then Katy orders very expensive baking trays and a commercial refrigerator from Kitchen Supplies Pty Lid Is the relationship between Laurence, Perry and Katy a partnership? Explain the reasoning behind your answer. (10 marks) 2. Harold offered a reward of $1,000 to anyone who could give information that would lead to a conviction of the person or persons who had broken into his home and stolen his cricket memorabilia collection. Charles was a police officer in the local district, and during the course of his investigation, he was able to provide the information that led to the capture and conviction of the thief. Advise Charles as to whether he is eligible to recover the reward. (10 marks) Student Declaration You must not answer here. Your answers must be created in a word doc. and uploaded via the 'Submit Final Exam to Turnitin'. Upon uploading please answer the following question I have submitted my answers through the Turnitin link True Type here to search O 6 W
