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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
    In the absence of an agreement to the contrary, the partners are:

    A) entitled to 6% interest on their capitals, only when there are profits

    B) entitled to 9% interest on their capitals only when there are profits

    C) entitled to interest on their capitals at the bank  rate, only when there are profits

    D) not entitled to interest on their capitals

    Correct Answer: D

    Solution :

    [d] not entitled to interest on their capitals


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