Multiple Choice Questions on A and B are partners in partnership firm without any agreement A has given a loan of Rs 50 000 to th........... for Commerce 12th Preparation

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Multiple Choice Questions

A and B are partners in partnership firm without any agreement A has given a loan of Rs 50 000 to th...........

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    A and B are partners in partnership firm without any agreement. A has given a loan of Rs 50,000 to the firm. At the end of year loss was incurred in the business. Following interest may be paid to A by the firm :

    @5% Per Annum

    Incorrect Answer

    @ 6% Per Annum

    Correct Answer

    @ 6% Per Month

    Incorrect Answer

    As there is a loss in the business, interest can’t be paid

    Incorrect Answer
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    Explanation:

    - Without an agreement, the rules of partnership law generally apply.

    - Interest on a loan by a partner is often computed at a statutory rate which 6% per annum.

    - Interest of loan is charge aganist prodits so it is a compulsory payment

    By: santosh
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