Match List-I with List-II.

If the partnership deed is silent regarding the items provided in List-l

Choose the correct answer from the options given below:

(A) - (III), (B) - (IV), (C) - (II), (D) - (I)

The correct answer is option 3- (A) - (III), (B) - (IV), (C) - (II), (D) - (I).

(A) Interest on Capital- (III) not payable.
Unless explicitly stated in the partnership agreement, partners do not have the right to claim interest on the capital they have invested in the firm.

(B) Interest on Loan- (IV) @6% p.a.
If a partner has provided a loan to the partnership for business purposes, they are entitled to receive interest on the loan amount at a rate of 6 percent per annum.

(C) Interest on Drawings- (II) not charged.
If the partnership deed does not mention anything about charging interest on drawings made by partners, no interest will be levied on such withdrawals.

(D) Sharing of Profits- (I) to be shared equally.
In the absence of a specified profit sharing ratio in the partnership deed, the profits and losses of the firm will be divided equally among the partners, regardless of their individual capital contributions.