Current Accounts of the Partners should be opened when the capitals are _____________. (ii) in the absence of an agreement, interest on partner 's loan shall be paid @ __________. (iii) In the absence of an agreement , partners shall _________ salaries.(iv)When there is no agreement among the partners, the profit or loss of the firm will be shared___________ by the partners.(v) __________ is an extension of Profit and Loss Account . (vi) Minimum number of persons required to start partnership business is__________ (vii) Number of partnerswhich should not exceed for partnership business is ____________. (viii) Salary or Commission to a partner is an ______________ out of profit.

Current Accounts of the Partners should be opened when the capitals ar

1.	Current Accounts of the Partners should be opened when the capitals are _____________. (ii) in the absence of an agreement, interest on partner 's loan shall be paid @ __________. (iii) In the absence of an agreement , partners shall _________ salaries.(iv)When there is no agreement among the partners, the profit or loss of the firm will be shared___________ by the partners.(v) __________ is an extension of Profit and Loss Account . (vi) Minimum number of persons required to start partnership business is__________ (vii) Number of partnerswhich should not exceed for partnership business is ____________. (viii) Salary or Commission to a partner is an ______________ out of profit.
Answer» Solution :[(i) fixed ; (II) `6%`p.a.; (iii) not be paid ; (iv) equally ; (v) PROFIT and LOSS Appropriation Account ; (vi) TWO ; (vii) fifty ; (viii) appropriation.]

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