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In the absence of any deed of partnership---
  • a)
    Only working partners are entitled to Salary.
  • b)
    Partners are entitled for commission @ 6% of the net profits of the firm.
  • c)
    Partners contributing highest capital is entitled for interest on capital @ 6% p.a.
  • d)
    Interest at the rate of 6% is to be allowed on a partner’s loan to the firm. 
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
In the absence of any deed of partnership---a)Only working partners ar...
In the absence of any agreement interest on advances by a partner is allowed at 6 percent p.a. and is allowed whether there is profit or no. Interest on loan is a charge and will be provided regardless of profits earned. 
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In the absence of any deed of partnership---a)Only working partners are entitled to Salary.b)Partners are entitled for commission @ 6% of the net profits of the firm.c)Partners contributing highest capital is entitled for interest on capital @ 6% p.a.d)Interest at the rate of 6% is to be allowed on a partner’s loan to the firm.Correct answer is option 'D'. Can you explain this answer?
Question Description
In the absence of any deed of partnership---a)Only working partners are entitled to Salary.b)Partners are entitled for commission @ 6% of the net profits of the firm.c)Partners contributing highest capital is entitled for interest on capital @ 6% p.a.d)Interest at the rate of 6% is to be allowed on a partner’s loan to the firm.Correct answer is option 'D'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about In the absence of any deed of partnership---a)Only working partners are entitled to Salary.b)Partners are entitled for commission @ 6% of the net profits of the firm.c)Partners contributing highest capital is entitled for interest on capital @ 6% p.a.d)Interest at the rate of 6% is to be allowed on a partner’s loan to the firm.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the absence of any deed of partnership---a)Only working partners are entitled to Salary.b)Partners are entitled for commission @ 6% of the net profits of the firm.c)Partners contributing highest capital is entitled for interest on capital @ 6% p.a.d)Interest at the rate of 6% is to be allowed on a partner’s loan to the firm.Correct answer is option 'D'. Can you explain this answer?.
Solutions for In the absence of any deed of partnership---a)Only working partners are entitled to Salary.b)Partners are entitled for commission @ 6% of the net profits of the firm.c)Partners contributing highest capital is entitled for interest on capital @ 6% p.a.d)Interest at the rate of 6% is to be allowed on a partner’s loan to the firm.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12. Download more important topics, notes, lectures and mock test series for Class 12 Exam by signing up for free.
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