2006-10-24 21:31:35 · 5 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
It works by depositing all profits in a bank account, and each of two partners is entitled to one-half; and the bank makes sure the rules are followed. Bill and his twin Jim do it that way, the only problem being that Jim's wife Mary is a horrid woman and intimidates Bill into sharing more than he ought, and has enough clout in the bank to make them follow her rules more than the others.
2006-10-24 21:40:22 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It works with an agreed sharing ratio as agreed in the partnership deed. this ratio is the amount contributed by the partner. when a partner has a claim, such claim/compensation is made based on the percentage of contribution.
2006-10-25 04:57:42 · answer #2 · answered by Nnamsco 3 · 0⤊ 0⤋
there should be a partnership agreement that details what each partner has in terms of share of the partnership profits and losses.
It is also possible that a partner is salaried only
2006-10-25 04:58:33 · answer #3 · answered by bw_r005t3r 2 · 0⤊ 0⤋
It must be defined in the partnership agreement. It's totally up to the partners.
2006-10-25 04:39:15 · answer #4 · answered by spacemann_spiffff 4 · 0⤊ 0⤋
Your question does not make sense to me.
2006-10-25 04:33:26 · answer #5 · answered by Anonymous · 0⤊ 0⤋