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In absence of partnership . interest …

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In absence of partnership . interest on loan of partner is allowed

Posted by Sonu Kashyap 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 4 years, 1 month ago

As per Partnership Act, in the absence of partnership agreement, interest on partners loan is allowed at 6% p.a. A and B having contributed larger amounts of capital, desire that the profits should be divided in the ratio of their capital contribution but C does not agree.

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