When the fixed amount is withdrawn at the end of each quarter, interest on drawing will be calculated for ___ Option 1: 7 1/2 months Option 2: 4 1/2 months Option 3: 6 months Option 4: 6 1/2 months

Answer: 4 1/2 months. Solution: When equal amounts are withdrawn at the end of each quarter, the average period is: Average period = (Time after first drawing + Time after last drawing)/2 = (9 + 0)/2 = 41/2 months. Hence interest on drawings is calculated for 4 1/2 months.

Partnership

Accounting

Easy

When the fixed amount is withdrawn at the end of each quarter, interest on drawing will be calculated for _______

7 1/2 months

4 1/2 months

6 months

6 1/2 months

✅ Correct Option: 2

When equal amounts are withdrawn at the end of each quarter, the average period is:

$\text{Average period} = \frac{\text{Time after first drawing} + \text{Time after last drawing}}{2} = \frac{9 + 0}{2} = 4\frac{1}{2}$ months.

Hence interest on drawings is calculated for 4 1/2 months.

2025: 2 June Shift 2

When the date of drawing is not specified, interest on drawings are calculated for

2023: 29 May Shift 2

In a partnership firm, partners share profit and loss in the ratio of 3:2. If the firm incurred a loss of Rs. 10,000 during the year then calculate the amount of loss to be shared by partners.

2025: 27 May Shift 2

Which Act empowers the Central Government to prescribe a maximum number of partners in a partnership firm :-

2025: 13 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Admission of a partner	(I) Executor Accounts
(B) Retirement of a partner	(II) Sacrificing Ratio
(C) Death of a partner	(III) Realisation Account
(D) Dissolution of a partnership	(IV) Gaining Ratio

Choose the correct answer from the options given below:

2026: 29 May Shift 1

The following are the modes of reconstitution of a partnership firm

(A) Death of a partner

(B) Dissolution of the firm by notice

(D) Admission of a new partner

Choose the correct answer from the options given below:

2022: 23 Aug Shift 2

The central government has prescribed the maximum number of partners in a firm to be _________ under Rule 10 of the companies (Miscellaneous) Rules, 2014.

When the fixed amount is withdrawn at the end of each quarter, interest on drawing will be calculated for _______

Solution

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