CUET Preparation Today
If partnership deed is silent on the profit sharing ratio; interest @.........per annum is allowed on loans advanced by partners. |
8% 6% 10% 12% |
6% |
The correct answer is option 2- 6%. If partnership deed is silent on the profit sharing ratio; interest @ 6% per annum is allowed on loans advanced by partners. If a partner has provided a loan to the partnership for business purposes, they are entitled to receive interest on the loan amount at a rate of 6 percent per annum in the absence of any agreement.
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