Accounting · Partnership Accounts - Fundamentals
Match the item in Column A with the relevant provision of the Indian Partnership Act, 1932 in Column B when the partnership deed is silent: Column A 1. Profit Sharing Ratio 2. Interest on Capital 3. Interest on Drawings 4. Interest on Partner's Loan Column B A. Allowed @ 6% p.a. B. To be shared equally C. Not allowed D. Not charged Choose the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11-B, 2-A, 3-D, 4-C
- 21-C, 2-D, 3-A, 4-B
- 31-B, 2-C, 3-D, 4-A✓
- 41-A, 2-B, 3-C, 4-D
Correct answer
1-B, 2-C, 3-D, 4-A
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