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WAEC Commerce 2019 Question 8

Question 8

Business Units

Where there is no deed of partnership, members share profit on

  1. A.the basis of participation
  2. B.the basis of shares held.
  3. C.patronage basis.
  4. D.equal basis.
Show the answer and explanation

Answer: D (equal basis.)

Explanation

Under the Partnership Act, when there is no deed the partners share profits and losses equally.