n agreement for the division of profits but none for losses,
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:If there is an agreement for the division of profits but none for losses, it is concluded that:
O Losses should be divided according to partner's original capital ratio.
O Losses should be divided equally.
Losses should be divided according to partner's average capital ratio.
O Losses should be divided in the same way as profits.
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