If there is no written agreement as to the way income will be divided among partners,

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If there is no written agreement regarding income distribution among partners, the default rule is that the partners will share income and losses equally. This is known as a partnership at will, and it is formed when partners start a business without any formal agreement in place. Option B is incorrect because sharing profits and losses based on capital balances applies only if the partners have agreed to it in writing. Option C is also incorrect because sharing profits and losses based on the time spent in the business is not a customary approach in a partnership at will. Option D may be correct in the sense that there is no formal partnership agreement, but it does not answer the question of how income will be divided.

If There Is No Written Agreement as to the Way