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In the absence of Partnership Deed, the profits of a firm are divided among the partners: -

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Question

In the absence of Partnership Deed, the profits of a firm are divided among the partners:

Options

  • In the ratio of Capital

  • Equally

  • In the ratio of time devoted to the firm's business

  • According to the managerial abilities of the partners

MCQ

Solution

Equally

Explanation:

If there is no partnership agreement, the partners split the profits and losses equally, regardless of the amount of capital they have committed.

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Partnership Deed
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