If a partnership agreement provides for the sharing of losses but is silent as to how profits are to be shared,profits are shared in the same proportion as losses.
Correct Answer:
Verified
Q61: A person cannot be forced to be
Q61: While claiming under _, a plaintiff must
Q62: An inference of the existence of a
Q63: If no other form of business organization
Q64: A partner is entitled to repayment of
Q66: The corollary to the rule of right
Q67: A sole proprietorship is considered a separate
Q68: An agreement to share losses of a
Q69: A sole proprietorship requires an approval from
Q70: General partnerships are liable to pay federal
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents