Every partner is entitled to share in the profits ________, unless different proportions are stipulated.
A
In proportion of capital
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B
Equally
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C
In proportion to balance in current accounts
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D
50% profit equally and remaining 50% in capital ration
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Solution
The correct option is B Equally According to the Partnership Act 1932, every partner has an equal right to participate in the conduct and management of the business and has an equal share in the profit or loss of the firm, mentioned otherwise.