pro-rata to his contribution.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Orosco is an industrial partner. Besides his services, he also contributed capital to the partnership . There is no agreement as to the distribution of profits or losses. The share of Orosco in the profit is
a. to be determined by the remaining partners.
b. combination of c and d below.
c. pro-rata to his contribution.
d. such share as may be just and equitable under the circumstances.
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