Question

Tina Jones is a dancer specializing in Latin dance styles. She always wanted to have her own dance studio where she could teach dancing to young and old alike. In 2006, she opened her first dance studio, Electric Diva, in Madison Triangle. It was a great choice as a business location because it’s well-connected by highways to most places in the city. She leased the space for three years. Her initial investment included a good sound system, cheerful interior design, and strong flooring. To raise capital for the business, Tina turned to her brother-in-law, Philip. Philip made half the financial investment. He manages the accounts and social media needs of the business. He has a 30% share in Trisha’s business. Together, they expanded the business to three dance studios in the city and plan to open franchises in other cities.

Answer 1

The question posted above is not complete. The question for the information given above is this: Select the statement that indicate that Tina's company is a partnership.
The options given are as follows: 

A. It was a great choice as a business location because it’s well-connected by highways to most places in the city.
B. Her initial investment included a good sound system, cheerful interior design, and strong flooring.
C. He manages the accounts and social media needs of the business.
D.He has a 30% share in Trisha’s business.

ANSWER
The correct option is D.
The statement given in option D shows that both Tina and her brother in-law share the profits made from the business, this shows that the business is a partnership business. A partnership is a type of business that involve at least 2 persons who conduct a business together with a view of making and sharing the resulting profits.