business law Which of the following statement(s) about partnership agreements is
ID: 1197851 • Letter: B
Question
business law
Which of the following statement(s) about partnership agreements is/are correct?
Whenever a partnership agreement is silent on this allocation of profits and losses, profit and losses are divided in the same proportion as capital contributions.
Whenever a partnership agreement allocated losses in unequal proportions, but is silent on the division of profits, profits are allocated in the same proportion as losses.
Whenever a partnership agreement allocated profits in unequal proportions, but is silent on the division of losses, losses are allocated in the same proportion as profits.
Whenever a partnership agreement allocated profits in unequal proportions but is silent on the division of losses, losses are allocated equally
Explanation / Answer
when a partnership agreement allocated profits in unequal proportions, but is islennt on the division of losses, losses are allocated in the same proportion as profits.
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