About partnership agreements

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Reference no: EM13984648

Which of the following statement (s) about partnership agreements is/are correct?

Whenever a partnership agreement is silent on this allocation of profits and losses, profit and losses are divided in the same proportion as capital contributions.

Whenever a partnership agreement allocated losses in unequal proportions, but is silent on the division of profits, profits are allocated in the same proportion as losses.

Whenever a partnership agreement allocated profits in unequal proportions, but is silent on the division of losses, losses are allocated in the same proportion as profits.

Whenever a partnership agreement allocated profits in unequal proportions but is silent on the division of losses, losses are allocated equally

Reference no: EM13984648

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