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easyMCQCUET Accountancy 2022 30 Aug Shift 22026Accountancy
1 mark

Match List I with List II in context of not having partnership deed.LIST IA. Interest on loanB. Interest on drawingsC. SalaryD. Profit sharing ratioLIST III. EqualII. Will not be chargedIII. @ p.a.IV. Will not be allowed/providedChoose the correct answer from the options given below:

  1. A
    A - IV, B - I, C - III, D - II
  2. B
    A - III, B - IV, C - II, D - I
  3. C
    A - IV, B - III, C - II, D - I
  4. D
    A - III, B - II, C - IV, D - I

Solution & Step-by-step Explanation

In the absence of a partnership deed:A. Interest on loan is allowed at p.a. (III)B. Interest on drawings will not be charged (II)C. Salary will not be allowed/provided (IV)D. Profit sharing ratio will be Equal (I)

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Match List I with List II in context of not having partnership deed.LIST IA. Interest on loanB. Interest on drawingsC. SalaryD. Profit sharing ratioLIST III. EqualII. Will not be chargedIII. @ p.a.IV. Will not be allowed/providedChoose the correct answer from the options given below:
A
A - IV, B - I, C - III, D - II
B
A - III, B - IV, C - II, D - I
C
A - IV, B - III, C - II, D - I
D
A - III, B - II, C - IV, D - I

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