Q987
One of the following statements is wrong if there is absence of partnership deed.
A.
No partner has the right to receive salary
B.
No interest is allowed on capital
C.
No interest is to be charged on drawings
D.
Interest @ 5% is to be allowed on the partner's loan to the firm
AnswerE.
Profit & losses are to be shared equally by the partner's
Answer: Option D
Solution
Answer: Option D
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