Match the following in case of no agreement:

1) c 2) d 3) b 4) a

*Interest on bank loan- Interest on bank loan is charge against profit that's why debited to p& l account.

* Interest on partner's capital- No partner is entitled to claim any interest on the amount of capital contributed by him in the firm as a matter of right. However, interest can be allowed when it is expressly agreed to by the partners. Thus, no interest on capital is payable if the partnership deed is silent on the issue.

* Interest on partner's drawing-  No interest is to be charged on the drawings made by the partners, if there is no mention in the Deed.

* Interest on partner's loan- If any partner has advanced loan to the firm for the purpose of business, he/she shall be entitled to get an interest on the loan amount at the rate of 6 per cent per annum.