Practicing Success
Which of the following situations generally calls for the provision of interest on capital in a partnership? |
When the partners contribute equal amounts of capital and share profits unequally When the partners contribute unequal amounts of capital but share profits equally Both options 1 and 2 When the partners contribute unequal amounts of capital and share profits unequally |
Both options 1 and 2 |
Option 1- When the partners contribute equal amounts of capital and share profits unequally. |