1. You have always wanted to own a bakery or pastry shop. You have $300,000 in available funds, and have learned that Dunkin’ Donuts will help you find a location, provide for training and all of the necessary materials to open one of its stores. In this arrangement, Dunkin’ Donuts will be a ______.
Limited partner
Franchisee
Shareholder
Franchisor
2.
You have always wanted to own a bakery or pastry shop. You have $300,000 in available funds, and have learned that Dunkin’ Donuts will help you find a location, provide for training and all of the necessary materials to open one of its stores. In this arrangement, Dunkin’ Donuts will be a ______.
Group of answer choices
Limited partner
Franchisee
Shareholder
Franchisor
3.
Juana hired Javier to restore the engine of her classic car. In return, Javier agreed to accept payment based on the winnings at the classic car show. Juana agreed to share the winnings as payment. This arrangement between Juana and Javier is a ______.
Group of answer choices
proprietorship
limited partnership (LP)
general partnership (GP)
joint venture
4.
The F9 Partnership has three partners: Tyrese, who made a $100,000 capital contribution; Paul, who made a $50,000 capital contribution; and Michelle, whose capital contribution was $30,000. Unless the partnership agreement sets forth the division of profits, if $120,000 of profit is earned, how will the profit be distributed?
Group of answer choices
Tyrese receives all profits as the majority investor and deems the division of assets.
$70,000 to Tyrese; $30,000 to Paul; $20,000 to Michelle.
$40,000 each to Tyrese, Paul and Michelle.
The partners will have to determine the distribution by a majority vote.
