CA Foundation Exam > CA Foundation Questions > In the absence of any agreement, partners are...
Start Learning for Free
In the absence of any agreement, partners are liable to receive interest on their Loans @:
- a)12% p.a
- b)10% p.a.
- c)8% p.a.
- d)6% p.a.
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
In the absence of any agreement, partners are liable to receive intere...
Partnership deed is not made so :-
1 . no interest on capital
2. 6% p.a. interest on loan advance
3. profit & losses shared equally
4. no extra salary was given to any partner
that's why option d is correct .
1 . no interest on capital
2. 6% p.a. interest on loan advance
3. profit & losses shared equally
4. no extra salary was given to any partner
that's why option d is correct .
Free Test
FREE
| Start Free Test |
Community Answer
In the absence of any agreement, partners are liable to receive intere...
Explanation:
Partners' Liability:
- In the absence of any agreement, partners are liable to receive interest on their Loans @ 6% p.a.
Reasoning:
- The default rate of interest in the absence of an agreement is typically set at 6% per annum.
- This rate is considered fair and reasonable for such circumstances where no specific agreement exists.
Legal Perspective:
- According to general partnership laws, partners are entitled to receive interest on their loans at a rate of 6% per annum in the absence of any other agreement.
Financial Implications:
- Partners should be aware of this default rate to ensure they are fairly compensated for any loans they provide to the partnership.
Conclusion:
- Partners should always have a clear agreement in place regarding the terms of any loans they provide to the partnership to avoid any confusion or disputes in the future.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer?
Question Description
In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer?.
In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer?.
Solutions for In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice In the absence of any agreement, partners are liable to receive interest on their Loans @:a)12% p.ab)10% p.a.c)8% p.a.d)6% p.a.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup