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Partners of a partnership firm are not entitled to which of the following in the absence of partnership deed?
33. Partners of a partnership firm are not entitled to which of the following in the absence of partnership deed?
- Equal share in profits
- 10 % Commission
- No salary or commission
- Interest on Drawings
Answer: C) No salary or commission
Explanation:
Since there is no written agreement between the partners in the partnership firm therefore any of the partners are not entitled to salary or commission.