In the Absence of a Provision in the Partnership Agreement

question 21

Multiple Choice

In the absence of a provision in the partnership agreement on the sharing of profits, partners share profits:

• A) according to their status in the firm.
• B) in proportion to their contribution of services.
• C) in proportion to their capital contribution.
• D) on an equal basis without regard to capital or services contributed.

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Definitions:

ListSize

The total number of elements that a list can contain at any given point in time.

Double[]

An array data structure that can hold multiple values, specifically of the double data type, which is used for storing double precision floating point numbers.

Method Heading

The part of a method declaration in programming that specifies the method's name, parameters, and return type.