Ownclasses

In the absence of partnership deed the profits of a firm are divided among the partners:
(a) In the ratio of capital
(b) Equally
(c) In the ratio of time devoted for the firm's business
(d) According to the managerial abilities of the partners

Answer

(b) Equally: According to partnership act 1932, in the absence of any partnership deed, profits of the firm are divided among the partners equally.