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Question
Interest on capital will be paid to the partners if provided for in the agreement but only from __________.
Interest on capital will be paid to the partners if provided for in the agreement but only from __________.
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Solution
The correct option is A profits
Interest on capital will be paid to the partners if provided for in the agreement but only from profits. Interest on capital is an appropriation and not a charge against profit hence, is provided only to the extent of profits.
Interest on capital will be paid to the partners if provided for in the agreement but only from profits. Interest on capital is an appropriation and not a charge against profit hence, is provided only to the extent of profits.
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