In case partnership deed is silent with regard to profit sharing ratio, profits would be shared:
A. Equally
B. Depends on the number of hours worked
C. In ratio of capital contributions
D. In ratio of business done by each partner.
Answer:A
In case partnership deed is silent with regard to profit sharing ratio, profits would be shared:
A. Equally B. Depends on the number of hours worked C. In ratio of capital contributions D. In ratio of business done by each partner.