| (i) | Loan given by Mrs. A to the firm is Rs.2,00,000 and there is no agreement on interest on loan | 12,000 | |
| (ii) | Loan given by Mrs. B to the firm is Rs.2,00,000 and interest on loan is 10% p.a. | (b) | No Interest |
| (iii) | Loan given by B to the firm is Rs.2,00,000 and interest on loan is 12% p.a. | (c) | 20,000 |
| (iv) | Loan given by the partner A to the firm is Rs.2,00,000 and Partnership deed is silent on Interest on loan | (d) | 24,000 |
A) (i) b ; (ii) c ; (iii) d ; (iv) a
B) (i) b ; (ii) c ; (iii) a ; (iv) d
C) (i) b ; (ii) a ; (iii) d ; (iv) c
D) (i) b ; (ii) d ; (iii) c ; (iv) a
Correct Answer: A
Solution :
(i) b ; (ii) c ; (iii) d ; (iv) a
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