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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 has a partnership deed. - Accounts

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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 has a partnership deed.

Very Short Answer
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Solution

When the firm has a partnership deed, interest on drawings will be charged only if it is provided in the partnership deed.

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Q 59. (a)
Chapter 1: Accounting for Partnership Firms - Fundamentals - SHORT ANSWER QUESTIONS [Page 1.134]

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D. K. Goel Accountancy Volume 1 and 2 [English] Class 12 ISC
Chapter 1 Accounting for Partnership Firms - Fundamentals
SHORT ANSWER QUESTIONS | Q 59. (a) | Page 1.134
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