English
CISCEISC (Commerce) Class 12
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Syllabus

State the provisions of the Indian Partnership Act, 1932, regarding the charging of interest on drawings from a partner when the firm does not have a partnership deed.

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Question

State the provisions of the Indian Partnership Act, 1932, regarding the charging of interest on drawings from a partner when the firm does not have a partnership deed.

Very Short Answer
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Solution

When the firm does not have a partnership deed, interest on drawings will not be charged.

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Q 55. (b)
Chapter 1: Accounting for Partnership Firms - Fundamentals - VERY SHORT ANSWER QUESTIONS (1 Mark) [Page 1.135]

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D. K. Goel Accountancy Part 1 and 2 [English] Class 12 ISC
Chapter 1 Accounting for Partnership Firms - Fundamentals
VERY SHORT ANSWER QUESTIONS (1 Mark) | Q 55. (b) | Page 1.135
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