Q41 In the absence of any partnership agreement, the partnership Act, 1890 stands. The Act includes the following EXCEPT:

Q41 In the absence of any partnership agreement, the partnership Act, 1890 stands. The Act includes the following EXCEPT:
 There should be no interest on capital
 There should be no interest on drawings
 There should be 10% interest on loan
 Profits and losses should be shared equally

 

TO PREPARE FOR YOUR ACC311 EXAMS – CLICK HERE TO GET THE ACC311 EXAMS SUMMARY FOR #1000