Rex Randall and Ken Smith's partnership agreement states that Randall gets 60% of profits and Smith gets
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Rex Randall and Ken Smith's partnership agreement states that Randall gets 60% of profits and Smith gets 40%. If the agreement does not discuss the treatment of losses, how are losses shared? How do the partners share profits and losses if the agreement specifies no profit-and- loss-sharing ratio?
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Related Book For 
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ISBN: 9780130906991
5th Edition
Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones
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