If the profit-sharing ratio is not given, how are profit or loss generally shared among the partners?

Correct answer: Equally

The governing partnership principle is that, in the absence of an agreed profit-sharing ratio, partners share profits and losses equally, unless the partnership agreement or applicable law provides a specific different rule. Thus, if there are two partners, each receives one-half; with three partners, each receives one-third. Option A is correct. Capital ratio is not automatically used merely because capital contributions differ. Cash ratio has no standard role in distributing partnership profit, and age is irrelevant to the accounting entitlement. In an examination, the wording must be checked carefully: if a deed, agreement, or statutory condition specifies a ratio, that stated condition overrides the default equal-sharing rule.