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Class 12 Accountancy Partnership Accounts - Basic Concepts AdjustmentsExpert

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If the deed has no clause for interest on drawings but the question separately gives a rate in the exam what should be done?

Answer and explanation

Correct answer: Interest should be charged at the given rate

If the question gives the rate and instruction it is used as the basis. Do not ignore information given in the exam.

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Partnership Adjustments Question Instruction Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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