No interest will be allowed to Partners on Capital (c) Interest on loan by partner As per Indian Partnership Act, 1932, 6% pa Interest will be allowed on the loan amount of partners (d) Division of Profit In the absence of partnership deed profit is distributed equally (e) Interest on Partners' Drawings No Interest is charged from In the absence of an agreement profit and loss are divided by partners in the ratio of (a) Capital (b) Equally (T) (c) Time devoted by each partners (d) None of these (4) In the absence of an agreement, Interest on loan advanced by the partner to the firm is allowed at the rate of (a) 6% (T) (b) 5% (c) 12% (d) 9%How do you Treat in the absence of partnership Deedsharing profit, interest on drawing, capital, salary to partnerand loan from partner in explanation in Ts Grewal Solution Class 12 Chapter 2 Accounting For Partnership Firms Fundamentals 19 In the absence of partnership deed interest on loan of a partner is allowed mcq
