Financial and Management Accounting

1: Match List I (Provision of partnership act) with List II (Matters with which the provision are released) and select the correct answer using the codes given below the lists:        List - I                                                                             List - II 1. lnterest must be allowed @ 6% p.a.                     (a) Drawings of partners 2. No interest shall be allowed                                   (b) Net loss of the firm for an accounting year. 3. No interest shall be charged                                  (c)  Capitals contributed by the partners. 4. Must be shared equally by all the partners          (d)  Loan given by a partner to the firm      unless otherwise agreed.
A.

1- a, 2 - c, 3 - b, 4 - d

B.

1- d, 2 - c,3 - b, 4- a

C.

1- c, 2 - b, 3 - d, 4 - a

D.

1 - d, 2 - c, 3 - a, 4 - b

 

Answer : D

Explanation :

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Option: A

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