Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Partnership

Question:
X and Y are partners in a partnership firm without any agreement. X devotes more time than Y. X will get the following commission in addition to profit in the firm's profit :
Options:
6% of profit
5% of profit
10% of profit
None of the above
Correct Answer:
None of the above
Explanation:
If there is no agreement, then no partner will be allowed commission.