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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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