Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Partnership

Question:

Which combination of statements is true about partnership-

(A) Valid partnership can be formulated even without a written agreement between the partners.
(B) Methods of settlement of disputes among the partners can't be part of the partnership deed.
(C) If the deed is silent, interest at the rate of 6% p.a. would be charged on the drawings made by the partner.
(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) and (D) only

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

(C) and (D) only

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

Correct Answer:

(A) and (D) only

Explanation:

The correct answer is Option (1) → (A) and (D) only