12th cbse accountancy 3rd oct 2024

On 1st June, 2021 a partner introduced in the firm additional capital ₹50,000. In the absence of partnership deed, on 31st March, 2022 he will receive interest:

• ₹3,000

• Zero

• ₹2,500

• ₹1,800

On 1st January 2022, a partner advanced a loan of ₹1,00,000 to the firm. In the absence of agreement, interest on loan on 31st March, 2022 will be:

• Nil

• ₹1,500

• ₹3,000

• ₹6,000

A partner introduced additional capital of 30,000 and advanced a loan of *40,000 to the firm at the beginning of the year. Partner will receive year's interest:

• ₹4,200

• ₹2,400

• Nil

• ₹1,800

In the absence of partnership deed, partners share profits or losses:

• In the ratio of their Capitals

• In the ratio decided by the court

• Equally

• In the ratio of time devoted

In the absence of Partnership Deed:

• Interest will not be charged on partner's drawings

• Interest will be charged @ 5% p.a. on partner's drawings

• Interest will be charged @ 6% p.a. on partner's drawings

• Interest will be charged @ 12% p.a. on partner's drawings