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Q1: Yap and Viji opened a new car wash centre. It was agreed that Yap would manage the operations of the centre and receive a
Q1: Yap and Viji opened a new car wash centre. It was agreed that Yap would manage the operations of the centre and receive a fixed salary each month and Viji would receive a fixed salary and any profits or losses remaining after deduction of expenses and taxes. Required: State, with reasons, whether a partnership exists in the above situation.
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