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Question Practice

If two partners contribute equally to the capital but one partner incurred drawing during the year, how will it affect their interest on capital?

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MCQ_SA
CBSE
Class 11
Accountancy
Accountancy - II
Financial Statements - II
Question Bank

If two partners contribute equ...

Single Answer MCQ
Q-00053672

If two partners contribute equally to the capital but one partner incurred drawing during the year, how will it affect their interest on capital?

1

The partner with drawings earns less interest

2

They both earn equal interest

3

Interest on capital will be calculated only on the remaining balance

4

Drawings are not considered for interest calculations

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