Subject to contract between the partners, the ratio of profits or loss sharing will be ___________.
A. Equal
B. In the ratio of capital contribution
C. In the ratio of loans given, if any
D. In the ratio given by the Income Tax Act.
Answer:A
Subject to contract between the partners, the ratio of profits or loss sharing will be ___________.
A. Equal B. In the ratio of capital contribution C. In the ratio of loans given, if any D. In the ratio given by the Income Tax Act.