Read the following information and answer the questions Q46-Q50.
A and B entered into partnership to

Q: What is the correct answer for CUET UG Accountancy Q46?

The correct answer is b. According to the Indian Partnership Act, 1932, in the absence of a partnership deed or any agreement regarding profit-sharing ratio, partners are entitled to share profits and losses equally. Since A and B entered into partnership "without any terms and conditions", they will share profits and losses equally.

Q: Read the following information and answer the questions Q46-Q50. A and B entered into partnership to supply stationery items without any terms and conditions. A contributed ₹1,00,000 as capital while…

The correct answer is b. According to the Indian Partnership Act, 1932, in the absence of a partnership deed or any agreement regarding profit-sharing ratio, partners are entitled to share profits and losses equally. Since A and B entered into partnership "without any terms and conditions", they will share profits and losses equally.

Q: What are the options for this CUET UG Accountancy question?

A. 5:1 · B. 1:1 · C. 2:1 · D. 4:1

Question

Read the following information and answer the questions Q46-Q50.
A and B entered into partnership to supply stationery items without any terms and conditions. A contributed ₹1,00,000 as capital while B contributed ₹20,000 only but he allow his building to be used as the firm office. After running business for nearly nine months, they felt urgency of funds and same was fulfilled by B by providing ₹80,000 as loan to the firm. At the end of the accounting year, they made a profit of ₹50,000. They decide to expand their business in future by admitting C into the firm and also to make agreement in writing containing all the terms and conditions.

Q47. Select the ratio in which A and B will share divisible profits.

FirstInTest · Accepted Answer

According to the Indian Partnership Act, 1932, in the absence of a partnership deed or any agreement regarding profit-sharing ratio, partners are entitled to share profits and losses equally. Since A and B entered into partnership "without any terms and conditions", they will share profits and losses equally.

Answer

5:1

Answer

1:1

Answer

2:1

Answer

4:1

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