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In the absence of Partnership Deed, the ...

In the absence of Partnership Deed, the interest is allowed on partner's capital:

A

`"@" 5%` p.a.

B

`"@" 6%` p.a.

C

`"@" 12%` p.a.

D

No interest is allowed

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The correct Answer is:
D
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DK GOEL-ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS -Multiple Choice Questions (ii) Partnership Deed (HOTS)
  1. Which of the following is not incorporated in the Partnership Act?

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  2. When is the Partnership Act enforced?

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  3. In the absence of Partnership Deed, the interest is allowed on partner...

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  4. In the absence of a partnership deed, the allowable rate of interest o...

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  5. A and B are partners in partnership firm without any agreement. A has ...

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  6. A and B are partners in a partnership firm without any agreement. A de...

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  7. In the absence of partnership deed, the following rule will apply :

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  8. In the absence of agreement, partners are not entitled to :

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  9. Interest on capital will be paid to the partners if provided for in th...

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  10. Which one of the following items cannot be recorded in the profit and ...

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  11. If any loan or advance is provided by partner then, balance of such Lo...

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  12. A, B and C were Partners with capitals of Rs.50,000, Rs.40,000 and Rs....

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  13. X, Y and Z are partners in a firm. At the time of division of profit f...

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  14. X, Y and Z are partners in a firm. At the time of division of profit f...

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  15. On 1st June, 2018 a partner introduced in the firm additional capital ...

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  16. On 1st January 2019, a partner advanced a loan of Rs.1,00,000 to the f...

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  17. A partner introduced additional capital of Rs.30,000 and advanced a lo...

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  18. In the absence of partnership deed, partners share profits or losses :

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  19. In the absence of Partnership Deed :

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  20. In the absence of express agreement, interest @6% p.a. is provided :

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