Question : If provided in deed, interest on capital is provided to partners only out of:
Option 1: Accumulated profits
Option 2: Reserves
Option 3: Profit of current year
Option 4: Goodwill
Answer (1)
20th Jan, 2024
Correct Answer: Profit of current year
Solution : If provided in the partnership deed, interest on capital is provided to partners only out of the profit of the current year. Hence, the correct option is 3.
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