Which of the following is true of a partner's right to compensation? Question 22 options: A partner is entitled to salary or wages. The partners may agree that one or more of them is to be paid a salary which will not be deducted at the end of the year from his profits. Compensation is never presumed to be the partner's share of the profits. The partners may agree that one or more of them is to be paid a salary in addition to sharing in profits.

Which of the following is true of a partner's right to compensation? Question 22 options: A partner is entitled to salary or wages. The partners may agree that one or more of them is to be paid a salary which will not be deducted at the end of the year from his profits. Compensation is never presumed to be the partner's share of the profits. The partners may agree that one or more of them is to be paid a salary in addition to sharing in profits.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter21: Partnerships

Section: Chapter Questions

Problem 5BCRQ

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If there is partnership deed, then which one of the following will apply? a. Interest on capital is not allowed b. Partners are not entitled to bonus c. Interest will be charged on drawings d. Partners are not entitled to salary
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