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Tamil Nadu Board of Secondary EducationHSC Commerce Class 12

Pick the odd one out - Accountancy

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Question

Pick the odd one out

Options

  • Partners share profits and losses equally

  • Interest on partners’ capital is allowed at 7% per annum

  • No salary or remuneration is allowed to partners

  • Interest on loan from partners is allowed at 6% per annum.

MCQ
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Solution

Interest on partners’ capital is allowed at 7% per annum

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Chapter 3: Accounts of partnership firms–fundamentals - Multiple choice questions [Page 111]

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Samacheer Kalvi Accountancy [English] Class 12 TN Board
Chapter 3 Accounts of partnership firms–fundamentals
Multiple choice questions | Q I 9. | Page 111
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