Question : Pick the odd one out of the following:
Option 1: Rent to partners
Option 2: Manager's commission
Option 3: Interest on partner's loan
Option 4: Interest on partner's capital
Answer (1)
16th Jan, 2024
Correct Answer: Interest on partner's capital
Solution :
Answer =
interest on partner's capital
Rent to partners, manager's commission, and interest on the partner's loan are transferred to the profit and loss account. Interest on the partner's capital is charged from the appropriation of profit transferred to the profit and loss appropriation account.
Hence, the correct option is 4.
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