Since Janine has management powers in a partnership, she is considered a managing partner in that firm.

Question

Quizplus · Accepted Answer

Not necessarily. Of course, management power by itself is not enough, there must be an intention to carry on the business for profit. Employees who are not partners, and even independent contractors who have control over certain projects conducted for the business, may have management power without being co-owners.

Since Janine Has Management Powers in a Partnership, She Is