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WAEC Commerce 2003 Question 11

Question 11

Business Units

A partnership without a deed shares profits/losses

  1. A.in the ratio of partners' capital
  2. B.equally among the partners
  3. C.proportionate to patronage
  4. D.proportionate to assets introduced
Show the answer and explanation

Answer: B (equally among the partners)

Explanation

Without a deed the Partnership Act applies, and profits and losses are shared equally.