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The deed allows equal drawings at the beginning of each quarter. What average period is generally taken?

Answer and explanation

Correct answer: Seven point five months

For drawings at the beginning of each quarter, average period is seven point five months. In exams distinguish beginning and end cases.

Related tags

Quarterly DrawingsAverage PeriodInterest On DrawingsPartnership DeedPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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