Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Partnership

Question:
In the absence of Partnership Deed, how much interest is allowed on partner’s capital?
Options:
6% pa
No interest on capital
10% pa
5%pa
Correct Answer:
No interest on capital
Explanation:
In the absence of partnership deed, No interest on capital will be provided to the partners.