a and b run a joint venture in which the profit earned by a and b are in the ratio 28:15 .
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Profit will generally be shared in the same proportion as their investment
Explanation:
Given: Profit sharing ratio is 28:15
Explanation:
For any given financial year, if the firm earns a net profit of Rs. 1000, then A and B will share this amount in the ratio 28:15.
A's share of profit = 28 / 43 * 1000 = Rs. 651
B's share of profit = 15/ 43 * 1000 = Rs. 349
The profit will generally be shared in the same proportion they invested in the firm.
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