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The deed gives interest on drawings rate but drawing dates are not given. If equal amount is withdrawn monthly, what average period is generally used in exams?

Answer and explanation

Correct answer: Six months

For equal monthly drawings with no dates, the usual average period is six months. Always check special information in the question first.

Related tags

Interest On DrawingsAverage PeriodMonthly DrawingsPartnership DeedPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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