The partnership deed normally specifies?
-
how profits or losses are to be shared
- the capital to be contributed annually
- how salaries are paid to employees
- the profit that should be earned annually
The correct answer is: A
Explanation
A partnership deed is a document containing an agreement that details the rights and obligations of each partner participating in a venture. For example, a deed of partnership could specify how proceeds from the partnership's business are to be divided among the partners.