Practicing Success
Practicing Success
CUET Preparation Today
| In the absence of any provision in the partnership deed, interest on drawings of a partner____________ |
Will not be charged Will be charged at 6% p.a Will be charged at 9% p.a. Will be charged even if there are no profits |
| Will not be charged |
| Interest on drawings is the interest charged by the firm on the money withdrawn by the partners for their personal purpose. If there is no provision in the partnership deed relating to interest on drawings no interest will be charged by the firm. |
