Chapter: Introduction to Partnership and Partnership Final Accounts· Book-Keeping & Accountancy
In the absence of an agreement, interest on loan advance by the partner to the firm is allowed at the rate of _____.
Q.1 (C) (2) In the absence of an agreement, interest on loan advance by the partner to the firm is allowed at the rate of _____.
A. 5%
B. 6%
C. 10%
D. 9%