If the partnership agreement specifies a method for allocating profits but not losses,then losses are shared in the same proportion as profits.

Question

Quizplus · Accepted Answer

If the partnership agreement does not provide for the allocation of losses, then they will be distributed in the same way as profits. This means that partners who receive a higher proportion of profits will also bear a greater share of the losses.

If the Partnership Agreement Specifies a Method for Allocating Profits