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Determine how much profit each of the partners will receive

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Question - Steven and Smith set up a partnership to run a café. At the time of establishing the business Steven was in a better financial position than Smith and so contributed 60% of the capital required. Smith believes that he contributes as much effort to running the café as Steven and therefore assumes that any profit made will be distributed evenly between themselves. Is Smith correct, and what factors might determine how much profit each of the partners will receive?

Reference no: EM132924144

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