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Question
Match the following items:
| (i) | In the absence of Partnership Deed, Interest on loan taken from a partner is allowed | (a) | 12% per annum |
| (ii) | In the absence of Partnership Deed Interest on Drawing of a partner is charged | (b) | 6% per annum |
| (c) | No interest is charged |
Match the Columns
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Solution
| (i) | In the absence of Partnership Deed, Interest on loan taken from a partner is allowed | (b) | 6% per annum |
| (ii) | In the absence of Partnership Deed Interest on Drawing of a partner is charged | (c) | No interest is charged |
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