Partners must share profits and losses equally. (State True or False)
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true partner must share profit and loss equally
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Answer:
No, the given statement is false.
Explanation:
The reason being that the partners only share the amount of profit or loss decided beforehand.
The profit and losses are shared among the partners on the basis of their agreement of sharing. This is also on the basis of partnership deed, if it states something regarding sharing of profit or losses.
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