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B withdrew Rs 20000 at the end of the year. If no special period is given what will be interest for that year?

Answer and explanation

Correct answer: Generally zero

For withdrawal at year end no time remains for that year. Therefore interest is generally taken as zero.

Related tags

Interest On DrawingsEnd Of YearTime PeriodCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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