If a partnership deed is silent on how profits are to be shared, partners share profits
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Correct Answer: Option C
Explanation:
Where a partnership agreement does not state how profits should be shared, the profits are normally shared equally among the partners. The partners are entitled to equal shares regardless of the amount of capital each partner contributed, unless the partnership agreement provides otherwise.
Where a partnership agreement does not state how profits should be shared, the profits are normally shared equally among the partners. The partners are entitled to equal shares regardless of the amount of capital each partner contributed, unless the partnership agreement provides otherwise.