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Mutt and Jeff could not agree on how to share the profits and losses of their partnership. In this case, the law would require that
Mutt and Jeff could not agree on how to share the profits and losses of their partnership. In this case, the law would require that partnership profits and losses be divided:
according to each partner's relative capital contribution
according to the amount of work performed by each partner
based upon a reasonable percentage return on their investment
equally
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Horngrens Accounting
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
10th Canadian edition Volume 2
978-0134213118, 134213114, 133855384, Google Book, 978-0133855388
