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*True / False* 1. In the absence of provision in the partnership deed, interest on loans given by the partners is allowed @ 6%. *Fill in the Blank* 2. If a fixed amount is withdrawn by a partner on the first day of every month interest on the total amount is charged for _________________ months. *Multiple Choice Question* 3. There are two partners in a firm P and Q. R is admitted into the firm for 1/3th share of profit with the guaranteed annual profit of Rs. 18,000. Firm’s profit for the year is Rs. 42,000. What amount of profit would be given to R as his share of profit by the firm? (a) Rs. 20,000 (b) Rs. 25,000 (c) Rs. 18,000 (d) Rs. 16,000

Posted by Anshul Koundal 6 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Goutam Gupta 6 years, 3 months ago

1.) True 2.) It is charged for 6.5 month 3.)18000 it is guaranteed amount

Purva Bhardwaj 6 years, 3 months ago

1. True 2. 12 3. (C)18,000 since ite his guarantee amount

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