Millionaire Mode

Partnership Accounts

Question 1 of 23

Which of the following statements is definitely not true when there is no partnership deed?

  1. The working partners are not entitled to any salary, commission etc.
  2. The partners will get profit in their capital ratio.
  3. The partners will get interest on advances @ 6% p.a.
  4. No interest will be allowed/charged on capital and drawings of partners.

Prize Money

15₹7 Crores
14₹1 Crore
13₹50,00,000
12₹25,00,000
11₹12,50,000
10₹6,40,000
9₹3,20,000
8₹1,60,000
7₹80,000
6₹40,000
5₹20,000
4₹10,000
3₹5,000
2₹2,000
1₹1,000