Accountancy Part AAccounting for Partnership

In the absence of Partnership deed, partners share profits and losses…

In the absence of Partnership deed, partners share profits and losses :-

Answer & explanation

Correct answer: option 3

The correct answer is Option (3) → Equal Ratio

NCERT (2026-27 edition):
Distribution of Profit among Partners – “The profits and losses of the firm are distributed among the partners in an agreed ratio. However, if the partnership deed is silent, the firm’s profits and losses are to be shared equally by all the partners.”