Question

Partners share profits and losses _____________

Answer 1

Partners share profits and losses in a business.

When forming a partnership, they decide how the profits and losses pass through the different member of the partnership or partners.

This ensures that there is no disagreement at a late point of time when the business goes into a loss.

If there is no such agreement, the partners share equal profits and losses and if there is an agreement the profits and losses are divided based on the agreement.

Answer 2

Answer:

partners share profit and loss in a business.