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Partnership Deed

Profit on Joi...

Question

Profit on Joint Venture is shared by the co-venturers ________________.

A

Equally

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B

As per agreement

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C

According to Capital Contribution

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D

According to time devoted

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Solution

The correct option is C As per agreement
Joint Venture is governed by partnership Act. Therefore, profit or loss will be shared as per agreement. However, in the absence of any agreement, profit or loss will be shared equally.

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