To which account salary and commission to partners and interest on capital be debited?

In the absence of Partnership Deed, the interest is allowed on partner’s capital:

Current Account of a partner

Which one of the following is NOT an essential feature of a partnership?

In the absence of an agreement to the contrary, partners share profits and losses in the

The interest on capital accounts of partners under fluctuating capital account method is credited to :

Partners current accounts are opened when their capital accounts are:

Which of the following transactions is always recorded in the partner's capital account irrespective of whether the partners capitals are fixed or fluctuating?Additional capital introduced by a partnerPermanent withdrawal of capital by a partnerboth (b) and (c)

In the absence of partnership deed, interest on loan of a partner is allowed :

If equal amount is withdrawn by partner in the beginning of each month during a month of 6 months interest on the total amount will be charged for......month

Which one of the following items is recorded in the Profit and Loss appropriation account

By virtue of Sectionof the Companies Act,the Central Government is empowered to prescribe maximum number of partners in a firm but the number of partners cannot be more than ___________.