Question 1 Ariana, Bella and Elsa are three good friends who formed a business selling designer clothes imported exclusively from Europe. The three friends registered their business as a general partnership under the name, ‘Fabulously You!’.

| October 22, 2018

Question 1 Ariana, Bella and Elsa are three good friends who formed a business selling designer clothes imported exclusively from Europe. The three friends registered their business as a general partnership under the name, ‘Fabulously You!’. The three partners signed an agreement to share profits and losses in the proportion of 40% (Ariana): 40% (Bella): 20% (Elsa). Ariana and Bella work in ‘Fabulously You!’ on a full time basis, with Ariana as the manag …

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