Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following rule applies to the partnership firm in the absence of a partnership deed? Equal profit sharing ratio Profit based salary to

Which of the following rule applies to the partnership firm in the absence of a partnership deed?

  1. Equal profit sharing ratio
  2. Profit based salary to the partners
  3. No interest shall be charged on capital
  4. 6 % Interest on Drawings


Step by Step Solution

3.40 Rating (162 Votes )

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is pr... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Equity Asset Valuation

Authors: Jerald E. Pinto, Elaine Henry, Thomas R. Robinson, John D. Stowe, Abby Cohen

2nd Edition

470571439, 470571438, 9781118364123 , 978-0470571439

More Books

Students also viewed these Accounting questions