In the absence of a partnership deed which of the following are correct.
(A) Profit sharing ratio will be on the basis of capital contributed by the partners
(B) No interest on capital will be provided
(C) No interest on Drawing will be charged
(D) 6% p.a. interest on partner's loan will be provided
(E) Partner will get salary for extra time devoted for the firm
Choose the correct answer from the options given below :
Held on 11 Jun 2023 · Verified 13 Jul 2026.
(A), (B) and (C) Only
(A), (D) and (E) Only
(D) and (E) Only
(B), (C) and (D) Only
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An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.