CUET Accountancy - If partnership deed is silent on the profit sharing ratio and other provisions: interest @_____ per annum is allowed on loans advanced by partners: | PYQs + Solutions

CUET Accountancy 2025 14 May Shift 1

Partnership

Easy

10%

12%

✅ Correct Option: 2

Related questions:

26 May Shift 2

John Ibrahim, a partner in Ancient Tours and Travels withdrew money during the year ending March 31, 2020 from his capital account, for his personal use. He withdrew Rs. 3,000 per month at the beginning of the month. Calculate interest on drawings that should be charged from John Ibrahim, if the rate of interest charged on drawing is 9% per annum.

16 May Shift 1

Ram, one of the partners, has withdrawn ₹ 1,00,000 from Business for his personal work. If the rate of interest charged on drawings is 12% p.a., find the amount of interest on drawings to be charged from Ram:

4 June Shift 2

Match List-I with List-II

List-I	List-II
(A). Admission of a New Partner	(I). Realisation Account
(B). Retirement of a Partner	(II). Sacrificing Ratio
(C). Dissolution of Partnership	(III). Executors Account
(D). Death of A Partner	(IV). Revaluation of Assets and Liabilities

Choose the correct answer from the options given below:

CUET Accountancy 2025 14 May Shift 1 PYQs

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