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Question : In the absence of any Partnership Agreement, the profits or losses of the firm are divided
Option 1: in Capital Ratio
Option 2: in Equal Ratio
Option 3: Either 1 or 2
Option 4: none of these

Team Careers360 2nd Jan, 2024

Answer (1)

Team Careers360 3rd Jan, 2024

Correct Answer: in Equal Ratio

Solution : In the absence of any partnership deed, the profit is to be shared in equal ratios between partners according to the Indian Partnership Act, 1932. Hence, the correct option is 2.

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