If No Other Method of Dividing Net Income or Net

question 53

Multiple Choice

If no other method of dividing net income or net losses is specified in the partnership agreement,it is divided

• A) in relation to the partners' capital account balances.
• B) in relation to the amount of time each partner devotes to the business.
• C) in relation to the original investment by each partner.
• D) equally.

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Definitions:

Member Unions

Organizations that belong to a larger federation or confederation of labor unions, representing various sectors or professions.

Represent

To act or speak officially for someone or something, especially in a legal or political context.

AFL-affiliated Unions

Unions that are members of the American Federation of Labor (AFL), a national federation of labor unions in the United States.

Women

Adult human females, often highlighted in discussions about gender equality, workforce participation, and rights.