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  3. 12th Class
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  5. Fundamentals of Partnership

12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm : Fundamental

  • question_answer
    X and Y are partners in the ratio of 3 : 2. Their capitals are Rs.20,000 and Rs.10,000 respectively. Interest on capitals is allowed @ 8% p.a. Firm incurred a loss of Rs.6,000 for the year ended 31st March, 2019. Interest on capital will be:

    A) X Rs.1,600 ; Y Rs.800

    B) X Rs.800 ; Y Rs.400

    C) X Rs.1,440 ; Y Rs.960

    D) No interest will be allowed

    Correct Answer: D

    Solution :

    [d] No interest will be allowed


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