Question: The Flat and Iron partnership agreement provides for Flat to receive a 20% bonus on profits before the bonus. Remaining profits and losses are divided

The Flat and Iron partnership agreement provides for Flat to receive a 20% bonus on profits before the bonus.

Remaining profits and losses are divided between Flat and Iron in the ratio of 2:3, respectively. Which partner has a greater advantage when the partnership has a profit or when it has a loss?

Profit Loss

a. Flat Iron

b. Flat Flat

c. Iron Flat

d. Iron Iron

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