Question

in the absence of partnership deed , what are the rules related to the following:
(a)interest on partners capital
(b)profit -sharing ratio
(c)interest on partners loan

short answer type question..............❤❤

perfect answer will be mark as a brainllist.......❤❤

so please its urgent ....... ❤❤❤



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Answer 1

c) interest on partners loan...❤️❤️❤️❤️❤️

Under the Partnership Act, 1932 the following rules will be applicable in the absence of an agreement among the partners: Profit or losses of the firm will be shared equally by the partners.(section 13) Interest on capital will not be allowed to any partner. ... In case of losses no interest will be allowed

Answer 2

hey mate!

here is your answer:

a. interest on capital will not be allowed.

b. profit will be shared equally.

c. interest on partners loan is 6%

hope it helped^_^