In the absence of any provision in the partnership deed, interest on drawings of a partner ___________.

will not be charged

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will be charged @ 6% p.a.

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will be charged @ 6% p.m.

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will be charged even if there are no profits

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Solution

The correct option is A will not be charged
Interest on drawings is the interest charged by the firm on the money withdrawn by the partners for their personal purpose. If there is no provision in the partnership deed relating to interest on drawings no interest will be charged by the firm.

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In the absence of any provision in the partnership deed, interest on drawings of a partner ___________.

The correct option is A will not be chargedInterest on drawings is the interest charged by the firm on the money withdrawn by the partners for their personal purpose. If there is no provision in the partnership deed relating to interest on drawings no interest will be charged by the firm.

The correct option is A will not be charged
Interest on drawings is the interest charged by the firm on the money withdrawn by the partners for their personal purpose. If there is no provision in the partnership deed relating to interest on drawings no interest will be charged by the firm.