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5. If the partnership agreement does not specify how profit is to be allocated, profits or losses should be allocated a. equally. b. in accordance

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5. If the partnership agreement does not specify how profit is to be allocated, profits or losses should be allocated a. equally. b. in accordance with their capital contribution. in proportion to the average of capital invested during the period. d. equitably so that partners are well compensated for their time and effort. C

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