Match List – I with List – II (when the partnership deed is silent).
|
LIST – I |
LIST – II |
|
A. Interest on Advances by partner |
I. Not charged |
|
B. Interest on Drawings |
II. 6% p.a. |
|
C. Interest on capital |
III. Equal |
|
D. Profit sharing ratio |
IV. Not allowed |
Choose the correct answer from the options given below :
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → A-II, B-I, C-IV, D-III
When the partnership deed is silent, the Indian Partnership Act, 1932 applies.
(A) Interest on Advances by partner — this matches (II) 6% p.a. A partner’s loan to the firm earns interest at 6% p.a.
(B) Interest on Drawings — this matches (I) Not charged.
(C) Interest on capital — this matches (IV) Not allowed.
(D) Profit sharing ratio — this matches (III) Equal, whatever the capital of each partner.
NCERT (2026-27 edition):
|
