In the absence of partnership agreement, how does partnership share profit or loss?

Feb 15, 2024

In the absence of partnership agreement, how does partnership share profit or loss?

LM 3 Discussion Board1. Mention and Explain the four most common legal forms of organization.2. Explain the characteristics of :a. Limited Liabilities Companyb. Partnership3. Mention and explain three provisions of partnership agreement?4. In the absence of partnership agreement, how does partnership share profit or loss?5. How does a partnership admit a new partner?6. Define the concept of ” Partner Bonus”, and state how does partner bonus determined.7. Explain what happens to partnership when:a. A partner withdraws.b. A partner dies.

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