When profit is allocated in a 3:2:1 ratio, it means that one partner will get 50% of the profit.
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Q26: Partners are NEVER allocated a salary in
Q27: The admission of a new partner may
Q28: When a partner withdraws from a partnership,
Q29: A partner may only withdraw from a
Q30: The admission of a new partner may
Q32: The departing partner may have to pay
Q33: Partnership profit or loss must be divided
Q34: If a new partner is purchasing the
Q35: On the financial statement of a partnership,
Q36: In the withdrawal of a partner, a
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