Which of the following is not a charge against profit?

The correct answer is Option (4) → Interest on Partner's Capital

A charge against profit is an expense that must be met before profit is found, and it is debited to the Profit and Loss Account. Interest on capital is an appropriation of profit: it is allowed only out of profit, through the Profit and Loss Appropriation Account.

Option (1) Manager's Commission — A true statement. It is paid to an employee, so it is an expense charged to the Profit and Loss Account.

Option (2) Rent to partner — A true statement. Rent for a partner’s premises used by the firm is a business expense, payable whether or not there is a profit.

Option (3) Interest on Loan — A true statement. Interest on a loan, including a partner’s loan, is a charge payable even in a year of loss.