Social Studies College

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.

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Answer 1

The fact that indicates that They are in a partnership is the fact that Philip owns 30 percent share in this business.

What is a partnership?

Partnership can be defined as the type of business where by two people or more are joint owners of a business.

The people that are in a partnership usually share in  the expenditures of the business, the debts and also the obligations.

Read more on partnership here:

https://brainly.com/question/25012970

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