Match Column I with Column II and select the correct option from the codes given below…
Accountancy · Class 12 · CBSE — Accounting for Partnership Firms
Match Column I with Column II and select the correct option from the codes given below, based on the rules applicable in the absence of a Partnership Deed:
| Column I | Column II |
|---|---|
| A. Interest on Capital | (i) Not charged |
| B. Interest on Drawings | (ii) Equal |
| C. Interest on Partner's Loan | (iii) Not allowed |
| D. Profit Sharing Ratio | (iv) 6% p.a. |
- A - (iii), B - (i), C - (iv), D - (ii)
- A - (i), B - (iii), C - (iv), D - (ii)
- A - (iii), B - (ii), C - (iv), D - (i)
- A - (iii), B - (i), C - (ii), D - (iv)
Answer
(A) A - (iii), B - (i), C - (iv), D - (ii)
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