If there is no partnership deed Mr. A who inverted Rs. 20,000 will share the profit _________.

Equally

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In the ratio of 1:2

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Will share profit in the ratio of 1:2 and loss equally

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None of the above

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Solution

The correct option is A Equally
Partnership act 1932 has clearly mentioned that if there is abscence of partnership deed beyween the partners, then they have to share profits equallly.
Mr. A has earned profit of Rs20,000 and as there is no partnership deed between him and his partners, so he has to distribute the profit of Rs20,000 equally amongst its partners.

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