Which of the following is an example of a general partnership? a. Yvonne opens her first business selling sporting goods. She hires a marketing manager, an accountant, and several sales staff to help her manage the demand for her goods. When she files her annual taxes, she claims 100% of the profits of the business on her individual tax return.
b. Stefanie's photography business has grown so quickly that she needs to invest in more equipment. She brings in a partner who provides the capital to purchase the new equipment, but who has no control over the day-to-day operations of the business.
c. Jonathan and Craig's catering business is going through a rough patch wherein the debts exceed the income. Jonathan is worried because he is personally liable for the whole of the company's debts, but Craig is only liable for the initial $50,000 that he invested.
d. Ken and Paul start a graphic design business together. When Ken fails to deliver on a contract with a customer, Ken and Paul are held equally responsible when the customer sues for damages.