Accountancy, asked by arunsainiarun1771, 9 months ago

Interest on capital is to be given out??

Answers

Answered by Anupamkumar4553

1

Answer:

Interest on Capital: If the partnership deed is silent on interest on partner's capital, then according to the Partnership Act of 1932, no interest on capital should be given to the partners of the firm. However, interest on capital is given only out of the profits, if mutually agreed by all the partners

Explanation:

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