When is the interest on drawings generally provided to the partners?
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On these drawings, the partnership agreement may provide for charging interest. Drawings may be against profits or against capital. Interest is computed on the basis of the period for which the money remained outstanding from the partners during the course of the accounting year.
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The interest on drawings generally are provided to the partners when they are bored and nothing important is going on at that place... and they are doing nothing but time - pass and disturbing you while you are doing something....
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