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CHOOSE THE CORRECT ANSWER If there is no agreement for the distribution of both profit and losses, it is concluded that: (1 Point) Any profits
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If there is no agreement for the distribution of both profit and losses, it is concluded that: (1 Point) Any profits and losses should be divided according to partner's original capital ratio. Profits and losses should be divided equally. Profits should be divided according to partner's average capital ratio and losses should be divided base on partner's original capital ratio. Profits and losses are divided according to the beginning capital balances of the partnersStep by Step Solution
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