to: 1The motive for charging interest on drawings is A)None of these B) To encourage partners from drawing fewer amounts of money from the business. C)To encourage partners from drawing large amounts of money from the business. D)To prevent partners from drawing large amounts of money from the business. 2)A and B are partners sharing profits and losses in the ratio of 1:1. C is admitted into the firm for 1/6th share then, the sacrifice ratio of partners A and B will be: A)4:1 B) 5:4 C)1:1 D) 2:3 3)Mr. Salman contributed capital of OMR 14,000 into his partnership business. If the firm gives 6% interest on capital per year, he earns in a year an interest on capital of: A)OMR 640 B)OMR 480 C)OMR 840 D)OMR 240 5)As per the Commercial Companies Law of Oman, in the absence of an agreement between the partners, profit and loss are divided by partners in the ratio of: A)None of these B) Capital Time devoted by each partner. D) Equally 7)Capitalized value of firm Net assets = A)Goodwill B)Normal profit C)Super profit D]Average profit 10)Current accounts of the partners should be opened when: A)Capital is either fixed or fluctuating. B)Capital is fluctuating. C) Capital is fixed. D) Capital is not available