Question 19

Which of the following is not true of a partnership business without written agreement?

  • A.profit and losses will shared equally
  • B.interest not to be paid on capital
  • C.interest on drawings is to be at the rate 5% per annum
  • D.salaries are not allowed to partners
  • E.money in excess of capital agreed to subscribe is to attract an interest of 5% per annum
Objective

Question details

Exam body
WAEC
Subject
Accounts - principles of accounts
Year
1994
Question no.
#19
Type
Objective

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