Anita is hired to manage an unincorporated dress boutique owned by Betty. The two agree that Anita will receive one-third of the net profits, which amount is to be paid to her on a monthly basis.
a. Is Anita a partner? Explain.
b. If the boutique has a loss instead of a profit, would Anita have to share the loss? Explain.
There are three components essential to the existence of a partnership: an association of two or more persons, conducting a business for profit, which they co-own. Anita is not a partner since she does not have joint ownership of the

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The Answer of Anita is hired to manage an unincorporated dress boutique owned by Betty. The two agree that Anita will receive one-third of the net profits, which amount is to be paid to her on a monthly basis.
a. Is Anita a partner? Explain.
b. If the boutique has a loss instead of a profit, would Anita have to share the loss? Explain.
There are three components essential to the existence of a partnership: an association of two or more persons, conducting a business for profit, which they co-own. Anita is not a partner since she does not have joint ownership of the

Anita Is Hired to Manage an Unincorporated Dress Boutique Owned