In the absence of any agreement, the interest to partners on the amount of loan advanced to the firm,…
Under s.13(d), absent agreement a partner is entitled to interest at "6% per annum" on any loan advanced to the firm beyond his agreed capital.
Choose your answer
In the absence of any agreement, the interest to partners on the amount of loan advanced to the firm, is allowed at
Answer and explanation
Correct answer B
Under s.13(d), absent agreement a partner is entitled to interest at "6% per annum" on any loan advanced to the firm beyond his agreed capital.
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