Ask Question
5 July, 10:21

If the partnership agreement does not indicate how the profits will be shared, the uniform partnership act provides that profits will be shared equally.

+2
Answers (1)
  1. 5 July, 10:44
    0
    This is a true statement. If the partnership does not specify how the profits are shared, then the UPA will take precedence, which holds that profits (and liabilities/losses) are to be shared equally among all the persons involved in the ownership of the business.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If the partnership agreement does not indicate how the profits will be shared, the uniform partnership act provides that profits will be ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers