Font size
WorksheetsQuiz on Partnership Accounts
Total questions: 6
Worksheet time: 3mins
In the absence of partnership deed, what is the rate of interest given on partner's loan?
@7% p.a.
@6% p.a.
@8% p.a.
@10% p.a.
Accounting rules for partnership are governed by the partnership act of
1933
1956
1932
2013
In the absence of a partnership deed the partners are entitles to interest on capital at the rate of
6%
9%
12%
nil
A and B are partners. B withdraws a fixed amount at the END of every MONTH. IOD is charged at 15%p.a. At the end of the year, interest on B's Drawings amounts to rs 1650. Drawings of B were:
24000 p.m.
24000
12000
10000
which of the following items can not be recorded in the P & L appropriation a/c
IOC
IOD
Rent paid to partners
Partner's salary
which of the following are shown on the debit side of current account ( u can tick more than one option)
Drawing
Interest on capital
Interest on drawing
salary
