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Do you agree/disagree with the following statement: An interest on capital is an expenditure for the partnership firm. - Book Keeping and Accountancy

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Question

Do you agree/disagree with the following statement:

An interest on capital is an expenditure for the partnership firm.

Options

  • Agree

  • Disagree

MCQ
True or False

Solution

An interest on capital is an expenditure for the partnership firm. - Agree.

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Provision of the Indian Partnership Act 1932
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Chapter 1: Introduction to Partnership and Partnership Final Accounts - Exercise 1.1 (Objective Questions) [Page 53]

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Balbharati Book Keeping and Accountancy [English] 12 Standard HSC Maharashtra State Board
Chapter 1 Introduction to Partnership and Partnership Final Accounts
Exercise 1.1 (Objective Questions) | Q I. G. 5) | Page 53

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