Business studies Mcqs, Accounts Mcqs, Business studies notes,Quiz and case Based Questions, Quizizz

Accounting for partnership firms (fundamentals) Quiz-1 Index => Accounting for partnership firms (fundamentals) Quiz-1 Quiz Show all questions <=   => When the partnership deed does not show any fixed interest on the partner’s loan, by the provision of law, at what rate is the partner entitled to receive interest on loan? ?   12% p.a. ?   6% p.a. ?   18% p.a. ?   10% p.a. Interest on drawing will not be charged if : ?   There is a loss ?   appropriations are more than the profits ?   Date of withdrawn is not given ?   partnership deed is silent on interest on drawing Rent paid to partner comes under: ?   profit and loss account ?   profit and loss appropriation account ?   partners capital account ?   partners current account Under the Indian Partnership Act 1932, which of the following is a requirement for a partnership to be considered valid? ?   Registration of the partnership