HomeTestsSearchRankProfile
mediumMCQCUET Accountancy2026Accountancy
1 mark

Neha contributed and Saloni as capital. What will be Saloni's share in profits if the partnership agreement is silent regarding profit-sharing?

  1. A
    One third of total profit.
  2. B
    One fourth of total profit.
  3. C
    Half of total profit.
  4. D
    Two third of total profit.

Solution & Step-by-step Explanation

In accordance with Section 13(b) of the Indian Partnership Act, 1932, if the partnership deed/agreement is silent regarding the profit-sharing arrangement, all partners are entitled to share profits and losses equally, regardless of their initial capital contributions.Since there are two partners (Neha and Saloni), the profit-sharing ratio will be .Therefore, Saloni's share will be exactly half () of the total profits.

Practice this question

Try it yourself before checking the explanation above.

Neha contributed and Saloni as capital. What will be Saloni's share in profits if the partnership agreement is silent regarding profit-sharing?
A
One third of total profit.
B
One fourth of total profit.
C
Half of total profit.
D
Two third of total profit.

Share This Question

Related Questions

Ready for a Full Test?

Practice with timed mock tests and track your performance across Accountancy.

Discussion