Absence of Partnership – Deed / or Silent  P.Deed?

  • Profit Sharing Ratio      –       Equal

  • Interest on Capital           –       Zero

  • Interest on Drawing –       Zero

  • Interest on Loan                   –       6 % P.A

  • Remuneration                      –       Zero

  • Personal Profit derived from firms business   –  Account for that in firm’s profits

  • Personal Profit derived from using firms assets  – Account for that in firm’s profits