CUET Accountancy - Choose the correct statement if a partnership deed does not exist. | PYQs + Solutions

CUET Accountancy 2025 22 May Shift 1

Partnership

Easy

common

Interest on Capital are allowed.

Interest on partner drawing is charged.

Remuneration or salary is given to partners.

Partners shall share the profit and losses equally.

✅ Correct Option: 4

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'The business of a partnership concern may be carried on by all the partners or any of them acting for all.'

Which feature of partnership is indicated by the above statement?

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All adjustments in respect of partner's salary, partner's commission, interest on capital, interest on drawings, etc. are made through:

CUET Accountancy 2025 22 May Shift 1 PYQs