Practice question
Question
In the absence of any agreement, partners are liable to receive interest on their loans at what rate?
Explanation
6% p.a. partnership correct; deed provisions interest capital drawings as per Act.
Related blogs
Guides and insights connected to this topic
Strategies for Enhancement in Food Production Biology Notes - Animal Husbandry, Plant Breeding, Biofortification, SCP and Tissue Culture
Key approaches in animal husbandry, plant breeding, biofortification, single cell protein and tissue culture to boost food output.
Body Fluids and Circulation Biology Notes - Blood, Blood Groups, Heart, Cardiac Cycle, ECG, Double Circulation and Disorders
Overview of circulatory systems, heart chambers across vertebrates, single vs double circulation, blood groups and ECG basics.
Plant Growth and Development Biology Notes - Growth Phases, Growth Rates, Differentiation, PGRs, Photoperiodism, Vernalisation and Seed Dormancy
Read notes on plant growth and development, covering meristems, growth phases, differentiation, plant growth regulators, and photoperiodism.
Discussion
Comments
Please log in to join the discussion.
Login to commentNo comments yet. Be the first to start the discussion.