Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Partnership

Question:

Which combination of statements are false about partnership-

(A) Interest on partner's loan is to be given @ 12% p.a., if the deed is silent about the rate.
(B) If the deed is silent, interest at the rate of 6% p.a. would be charged on the drawings made by the partner.
(C) Methods of settlement of dispute among the partners can't be part of the partnership deed.
(D) Each partner carrying on the business is the principal as well as the agent for all the other partners

Choose the correct answer from the options given below:

Options:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer:

(A), (B) and (C) only

Explanation:

The correct answer is Option (2) → (A), (B) and (C) only