W 1. The prots of the partnership will be divided among the partners based on their agreement, regardless of the partners' interest in the partnership. 2. The ratio in which partnership proE and losses is divided is known as the capital ratio. 3. All partners are to share equally on partnership prots and losses. 4. All partners are to be held liable for debts of the partnership. 5. Personal income tax is to be paid on the net share of a partner on the net income of trading partnership. 6. Only general partners are to be held liable for debts incurred by the partnership due to unprotable operations. 7. When partners are entitled to salaries, they are to be credited for this even when business operations result in a loss. 3. A limited partner shares not only in the prots but also in the losses of the partnership. 9. Withdrawals that will be made by a partner are limited to the net income for the year. 10. Industrial partners do not share in the losses sustained by the partnership due to unprotable operations