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In a partnership, what is the term for the share of profits that a partner is en
In a partnership, what is the term for the share of profits that a partner is entitled to receive?
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Q1
In a partnership, what is the term for the share of profits that a partner is entitled to receive?
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Distribution
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The term 'distribution' refers to the share of profits that a partner is entitled to receive from the partnership.
Questions & Step-by-step Solutions
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Q
Q: In a partnership, what is the term for the share of profits that a partner is entitled to receive?
Solution:
The term 'distribution' refers to the share of profits that a partner is entitled to receive from the partnership.
Steps: 3
Show Steps
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'.
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