Alerts
Wishlist
Cart
Sign In
Categories
Current Affairs & GK
Current Affairs
Show All Current Affairs & GK
eBooks
General Aptitude
Arithmetic Aptitude
Data Interpretation
Show All General Aptitude
General Knowledge
Basic General Knowledge
General Science
Show All General Knowledge
Medical Science
Anatomy
Biochemical Engineering
Biochemistry
Biotechnology
Microbiology
Show All Medical Science
Technical
Database
Digital Electronics
Electronics
Networking
Show All Technical
Verbal and Reasoning
Logical Reasoning
Verbal Ability
Verbal Reasoning
Show All Verbal and Reasoning
›
How is the net profit of a partnership firm distributed among partners?
How is the net profit of a partnership firm distributed among partners?
Expand All
Collapse All
Practice Questions
1 question
Q1
How is the net profit of a partnership firm distributed among partners?
Equally among all partners
Based on their capital contribution
As per the partnership agreement
Based on the number of partners
Show Solution
Copy
The net profit is distributed according to the terms specified in the partnership agreement.
Questions & Step-by-step Solutions
1 item
Q
Q: How is the net profit of a partnership firm distributed among partners?
Solution:
The net profit is distributed according to the terms specified in the partnership agreement.
Steps: 6
Show Steps
Step 1: Understand that a partnership firm is a business owned by two or more people.
Step 2: Know that the net profit is the total profit after all expenses have been paid.
Step 3: Check the partnership agreement, which is a document that outlines how profits will be shared.
Step 4: Look for specific terms in the agreement that state how much each partner will receive.
Step 5: If the agreement does not specify, profits are usually shared equally among partners.
Step 6: Distribute the net profit according to the agreed terms or equally if no terms exist.
Related Questions
I
If a company has a net income of $250,000 and total revenue of $1,000,000, what
Question: If a company has a net income of $250,000 and total revenue of $1,000,000, what is the pro..
A
A business incurs a loss of 15% on selling a product for $425. What was the cost
Question: A business incurs a loss of 15% on selling a product for $425. What was the cost price?Opt..
I
If a product is sold for $240 after a discount of 20%, what was the original pri
Question: If a product is sold for $240 after a discount of 20%, what was the original price?Options..
I
If a company has total assets of $1,000,000 and total liabilities of $600,000, w
Question: If a company has total assets of $1,000,000 and total liabilities of $600,000, what is the..
A
A firm has a current ratio of 2:1 and current liabilities of $50,000. What are t
Question: A firm has a current ratio of 2:1 and current liabilities of $50,000. What are the current..
‹
Biology (School & UG)
Chemistry (School & UG)
Civil Engineering
Commerce & Accountancy
Computer Science & IT
Current Affairs & GK
Data Structures & Algorithms
eBooks
Electrical & Electronics Engineering
English (School)
General Aptitude
General Knowledge
General Knowledge & Current Affairs
Languages & Literature
Law & Legal Studies
Major Competitive Exams
Mathematics (School)
Mechanical Engineering
Medical Science
Physics (School & Undergraduate)
Quantitative Aptitude & Reasoning
Social Science (School)
Technical
Verbal and Reasoning
Vocational & Skill Development
›
Soulshift Feedback
×
On a scale of 0–10, how likely are you to recommend
The Soulshift Academy
?
0
1
2
3
4
5
6
7
8
9
10
Not likely
Very likely
✕
↑
