Question

EXERCISE - 1
When there is no partnership agreement between partners, the division of Profits to
ratio.
Q.I Objective Questions :
А
Select the most appropriate alternatives from the following & rewrite the sentences :
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Answer 1

Answer:

When there is no partnership agreement between partners ,the division of profits is in equally among the partners.

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Answer 2

Answer:

According to Partnership Act 1932, in the absence of any agreement between partners , profit and loss must be shared equally , regardless of the ratio of the partners investments . If the partnership agreement specifies how profits are to be shared , losses must be shared on the same basis as profits .

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