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In a partnership, what is the term for the share of profits that a partner is en

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Question: In a partnership, what is the term for the share of profits that a partner is entitled to receive?

Options:

  1. Dividend
  2. Salary
  3. Draw
  4. Distribution

Correct Answer: Distribution

Solution: 

The term \'distribution\' refers to the share of profits that a partner is entitled to receive from the partnership.

In a partnership, what is the term for the share of profits that a partner is en

Practice Questions

Q1
In a partnership, what is the term for the share of profits that a partner is entitled to receive?
  1. Dividend
  2. Salary
  3. Draw
  4. Distribution

Questions & Step-by-Step Solutions

In a partnership, what is the term for the share of profits that a partner is entitled to receive?
  • Step 1: Understand that a partnership is a business arrangement where two or more people share profits.
  • Step 2: Know that each partner contributes to the business and is entitled to a portion of the profits.
  • Step 3: Learn that the specific term used to describe the share of profits a partner receives is called 'distribution'.
  • Profit Sharing in Partnerships – The concept of how profits are divided among partners in a partnership, often referred to as distributions or profit shares.
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