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In the absence of partnership deed, which of the following statement is correct ?
Question

In the absence of partnership deed, which of the following statement is correct ?

A.

Interest on partners' Capital will be allowed @ 6% p.a.

B.

Interest on partners' Loan is to be given @ 6% p.a.

C.

Profits are shared in the ratio of Capital

D.

Interest on Drawing is to be charged @ 6% p.a.

Correct option is B

In the absence of a partnership deed, Interest on partners' Loan is to be given @ 6% p.a.

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CUET 2025 English Language Mock 01

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