true

Take Class 11 Tuition from the Best Tutors

Affordable fees
1-1 or Group class
Flexible Timings
Verified Tutors

Search in

Provisions of Indian Partnership Act 1932- In Absence of Partnership deed

Madhura Sagar G.

05/05/2022 1 0

1. Interest on Loan taken by Firm should be 6 percent per annum.

2. Interest on Loan given by the Firm should be nil

3. No partner could be admitted in the firm without the consent of the exisiting partners.

4. Interest on Capital, Interest on Drawings and Partner's Salary/comission should be nil.

5. The Profit sharing ratio between the partners, for both profit and loss should be equal.

1 Like 0 Dislike

Follow 2

Other Lessons for You

Partnership Accounting

In partnership, accounting starts from transferring “Net profit” figure from P&L account to “P&L Appropiation a/c”. Below are accounting entries to be made. For transfer...

Akhil Mittal

0 0

Rules of Journalizing

Personal a/c : " Debit the receiver, Credit the giver." Real a/c : " Debit what comes in, Credit what goes out." Nominal a/c : " Debit all expenses & losses, Credit all incomes & gains."

Sadiya G.

0 0

Learn basic tip for doing entry

Pawan

0 0

Rules of debit and credit

Personal account: Debit the receiver and credit the giverReal account: Debit what comes in and credit what goes outNominal account: Debit all expenses & losses and credit all incomes & gains

Pankaj Agarwal

1 0

Cash Flow Statement (CFS)

CASH FLOW STATEMENT Marks: 8 (Eight) As prescribed by the Accounting standard-3 (AS-3), there are two methods which can be used to prepare cash flow statements: Indirect method Direct method...

Anjali Y.

0 0

Find Class 11 Tuition near you

Looking for Class 11 Tuition ?

Learn from Best Tutors on UrbanPro.

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you

Class 11 Tuition Questions

What is the difference between amalgamation and absorption?

5 Answers

Define Matrix.

102 Answers

What are the fixed assets? Give example.

5 Answers

What are the two government plans for school students?

24 Answers

What is the difference between Bad debts and bad & doubtful debts. What are the legal compliances...

7 Answers

Looking for Class 11 Tuition Classes?

The best tutors for Class 11 Tuition Classes are on UrbanPro

Select the best Tutor
Book & Attend a Free Demo
Pay and start Learning

Migrate

Class

Subject

Chapter

Migrate to

Concept Solution

Migration Successful

Take Class 11 Tuition with the Best Tutors

The best Tutors for Class 11 Tuition Classes are on UrbanPro

I am a Student I am a Tutor
Name*	Please enter your full name. Please enter institute name.
Email*	Please enter your email address.
Phone*	Please enter a valid phone number.
Location*	Please enter a pincode or area name.
City*	Please enter city name.
Category*	Please enter category.
Gender*	Male Female Please select your gender.
Email ID/ Mobile No.*	Please enter either mobile no. or email.
Enter Password*	Please enter OTP Please enter Password Sorry, this phone number is not verified, Please login with your email Id.