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  3. 12th Class
  4. Accountancy
  5. Fundamentals of Partnership

12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm : Fundamental

  • question_answer
    Loan has been given by wife of a partner to the firm. Now partner wants interest @ 6% per annum as per Partnership Act, 1932 while partnership deed is silent. Solve this issue.

    A) Provide 6% per annum interest as Partnership Act says

    B) Provision of interest on loan @ 6% per annum of the Partnership Art does not apply

    C) Provide 10% interest to solve the issue

    D) None of the above

    Correct Answer: B

    Solution :

    [b] Provision of interest on loan @ 6% per annum of the Partnership Act does not apply


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