In absence of partnership deed, partners share profit or loss

1.	In absence of partnership deed, partners share profit or loss
Answer» ACCORDING to PARTNERSHIP Act 1932, in the absence of any agreement between PARTNERS , profit and loss MUST be shared equally , regardless of the ratio of the partners investments . If the partnership agreement SPECIFIES how profits are to be shared , losses must be shared on the same basis as profits . $\text{[math]}$

Answer»

ACCORDING to PARTNERSHIP Act 1932, in the absence of any agreement between PARTNERS , profit and loss MUST be shared equally , regardless of the ratio of the partners investments . If the partnership agreement SPECIFIES how profits are to be shared , losses must be shared on the same basis as profits .

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In absence of partnership deed, partners share profit or loss

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