7. The most equitable basis of distributing partnership profit by way of capital contributions is? A. beginning capital B. ending capital C. average capital D. equally 8. In case the partnership makes...

7. The most equitable basis of distributing partnership profit by way of capital contributions is?
A. beginning capital
B. ending capital
C. average capital
D. equally

8. In case the partnership makes profit, how will an industrial partner be given a share?
A. what is just equitable
B. equally
C. arbitrarily
D. proportion to capital contribution

9. Which of the following is not considered a legitimate expense of a partnership?
A. Supplies used in the partnership’s office
B. Depreciation on assets contributed to the partnership by partners
C. Salaries for management hired to run the business
D. Interest paid to partners based on their capital balances

Kindly answer the questions correctly by choosing a letter and explain. Thank you.