(i) Profits and looses will be shared unequally.
(...
(i) Profits and looses will be shared unequally.
(ii) Interest is not allowed on capital.
(iii) Salaries are not allowed.
(iv) Interest is charged on drawings.
From the above, which of the following would apply where there is no agreement during partnership formation?
i only
i, ii and iii
i, ii and iv
ii and iii
Correct answer is C
No explanation has been provided for this answer.
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