Question

In the absence of a specific agreement, the law requires that partnership profits be divided equally among the partners.

a. True
b. False

Answer 1

The statement is False. Partnership profits are not required to be divided equally among the partners.

Step-by-step explanation:

The statement is False. In the absence of a specific agreement, partnership profits are not required to be divided equally among the partners. The division of profits in a partnership is typically determined by the partnership agreement, which can specify different allocation methods such as based on the partners' capital contributions or their percentage of ownership.