AAT Level 2 Practice Test
AAT Level 2 - Foundation Certificate in Accounting AAT L2 Introduction to Business and Company Law 2
The Partnership Act 1890 provides that, in the absence of a partnership agreement, profits and losses are shared:
Select your answer
A
In proportion to each partner's capital contribution
B
Equally between all partners
C
According to the hours each partner works
D
Only profits are shared — losses are borne by the senior partner
Hint
