White,Gray,and Greene Enter into a Contract to Form a Partnership,but

Multiple Choice

White,Gray,and Greene enter into a contract to form a partnership,but the contract says nothing about the sharing of profits and losses.Which of the following will take place?

A) Profits and losses will be shared in a ratio based on the dollar amount of their capital investments.
B) Profits will be shared equally;losses will be absorbed based on dollar amount of capital investment.
C) Profits will be based on amount of time each partner spends working for the firm;losses will be shared equally.
D) Profits and losses will be shared equally.