Question

According to Indian Partnership Act, 1932 partner making, for the purposes of the business, any payment or advance beyond the amount of capital he has agreed to subscribe, is entitled to interest thereon at the rate of …... percent per annum;

A 6 Correct Answer Incorrect Answer
B 7 Correct Answer Incorrect Answer
C 8 Correct Answer Incorrect Answer
D 5 Correct Answer Incorrect Answer
E 9 Correct Answer Incorrect Answer

Solution

Section 1 3(d) of Indian Partnership Act, 1932  partner making, for the purposes of the business, any payment or advance beyond the amount of capital he has agreed to subscribe, is entitled to interest thereon at the rate of six per cent. per annum  

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