Explain one detail that could be agreed between partners in a partnership. - AQA - GCSE Business - Question 7 - 2022 - Paper 1

One key detail that partners in a partnership could agree upon is the profit-sharing ratio. This ratio determines how profits (and losses) will be distributed among the partners. For instance, partners may decide to share profits equally or in proportion to their initial capital contributions. This agreement is crucial as it establishes each partner's financial stake in the business and helps prevent potential disputes in the future.