Asked by Jackson Boone on May 29, 2024

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According to the RUPA,a partner:

A) is entitled to a salary or wages.
B) is entitled to compensation based upon his capital contribution.
C) is entitled to an equal share of the profits.
D) is entitled to compensation based on the amount of time he contributes to the business.

RUPA

The Revised Uniform Partnership Act, which provides a framework for the governance of business partnerships in several states.

Equal Share

A portion or percentage of something, such as profits or ownership, that is distributed equally among all members or parties involved.

  • Gain understanding of the primary doctrines of the Revised Uniform Partnership Act (RUPA) with an emphasis on the allocation of profits, work contributions from partners, and liability considerations.
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BS
Bailey SchleimerMay 31, 2024
Final Answer :
C
Explanation :
Unless there is an agreement to the contrary,partners share partnership profits equally,according to the number of partners,and not according to their capital contributions or the amount of time that each devotes to the partnership.