Accountancy Part AAccounting for Partnership

If the partnership deed is silent about the profit sharing ratio, the…

If the partnership deed is silent about the profit sharing ratio, the profits and losses of the firm:

Answer & explanation

Correct answer: option 2

The correct answer is Option (2) → Are to be shared in equal ratio

NCERT (2026-27 edition):
Provisions of Partnership Act Relevant for Accounting – “… (a) Profit Sharing Ratio: If the partnership deed is silent about the profit sharing ratio, the profits and losses of the firm are to be shared equally by partners, irrespective of their capital contribution in the firm.”