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Question
Zeno, Zella, and Zorro wish to form a partnership. Zeno is putting up 60% of the capital; Zella is putting up 40%, and Zorro is putting in no capital but will manage the business. In the absence of a provision in the partnership agreement, how will the liability and profits be distributed?
a. According to the input of capital b. According to the amount of work each does in the business
c. Equally d. According to the laws of the state where the partnership is formed
Answer
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