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Partnership Act 1932 does not comprise of which of the following?
25. Partnership Act 1932 does not comprise of which of the following?
- No interest is allowed on capital invested
- All loans provided are to be allowed on a fixed interest rate
- Profit and Losses are to be shared equally
- Interest has to be charged on all drawings
Answer: D) Interest has to be charged on all drawings
Explanation:
Partnership Act 1932 does not comprise of the term that Interest has to be charged on all drawings.