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AP
Question Practice

In the absence of specific provisions, how is the profit distributed between partners?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Accounting for Partnership: Ba...
Question Bank

In the absence of specific pro...

Single Answer MCQ
Q-00082009

In the absence of specific provisions, how is the profit distributed between partners?

1

In proportion to capital contributed

2

Equally among all partners

3

By seniority of joining

4

Based on mutual consent

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Q1.

What is a partnership and what are its chief characteristics?

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Explain the main provisions of the Indian Partnership Act 1932 that are relevant to partnership accounts in the absence of a partnership deed.

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Q3.

What is the primary purpose of a partnership deed?

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Q4.

If a partnership deed is silent on the profit-sharing ratio, how should profits be shared?

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