1 . Simple partnership: When capitals of all the persons are invested for the same time intervals, the gain or loss in the business is divided among the partners in the ratio of their investments.
2 . Compound partnership: When capitals of partners are invested for different time intervals then equivalent capitals are obtained for 1 unit of time by multiplying the capital with the number of units. The gain or loss is now divided among partners in the ratio of these capitals.
Formula for compound partnership is
1. (1) 2. (3) 3. (1) 4. (3) 5. (3) 6. (2) 7. (2) 8.(1) 9. (4)
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