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In the Absence of Partnership Deed the Profits of a Firm Are Divided Among the Partners : - Accountancy

In the absence of partnership deed the profits of a firm are divided among the partners :

(a) In the ratio of capital

(b) Equally

(c) In the ratio of time devoted for the firm's business

(d) According to the managerial abilities of the partners

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Solution

Equally

According to provisions of Indian Partnership Act, 1932 the profits and losses are to be shared equally among the partners.

Concept: Meaning and Definitions of Partnership and Partnership Deed
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