Which one of the following is correct with respect to the rights of partners unless they have agreed otherwise?
A) Personal expenses incurred by the partners in the course of business are reimbursed.
B) Only the partners that have contributed the largest capital amount have the right to share in management.
C) No major decision can be taken without a majority vote agreement of all the partners.
D) All profits are shared equally between the partners.
E) Partners can sell their share of the partnership to another person without the agreement of the partners.

Question

Quizplus · Accepted Answer

The default rule in a partnership is that all profits are shared equally among the partners, regardless of the amount of capital each partner has contributed. This is unless the partnership agreement specifies otherwise.

Which One of the Following Is Correct with Respect to the Rights