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Question
As per Partnership Act, which of the following rights are available to the partner?
As per Partnership Act, which of the following rights are available to the partner?
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Solution
The correct option is C Equal profit and loss
Partners generally describe in their deed the proportion in which they will share profits of the firm. However, they have to share all the profits of the firm equally if they have not agreed on a fixed profit sharing ratio.
Partners generally describe in their deed the proportion in which they will share profits of the firm. However, they have to share all the profits of the firm equally if they have not agreed on a fixed profit sharing ratio.
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