Question : In the absence of agreement, partners are not entitled to:
Option 1: Salary
Option 2: Commission
Option 3: Equal share in profit
Option 4: Both (1) and (2)
Answer (1)
21st Jan, 2024
Correct Answer: Both (1) and (2)
Solution :
In the absence of partnership deed, No partner is entitled to any salary or commission for taking part in running the firm's business. also No ioc shall be allowed to the partners.
Hence, option 4 is the correct answer.
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