Related InterviewSolutions

• in the adsence of an agreement to the contrary partners share profits and losses in theA. ratio of their capitals in the beginning of the yearB. ratio of their capitals at the end of the year .C. ratio of average capitalD. equal ratio.
• in the absence of an agreement to the corrtrary , the partners areA. entitled for 6% interest on their capitals ,only when there are progits .B. enttitled for 9% interest on their capitals , only when are pointsC. entitled for interest on capital at te bank rate only when three are profits .D. not entiteled for the ant interest on their capitals .
• Atal and lal are partners in a firm , they do not have partnership Deed ,what shall be the position in the following cases ? (i) atal devotes more time than Lal in the business Atal demands a salary of Rs. 6,000 per month for it (ii) Lal has invested capital of Rs.50.000 whereas atal has invested Rs. 5.000 as capital Atal however has advanacaed Rs. 10.000 as loan to the ,what interest to his if any will be allowed to Atal and Lal? (iii ) Atal wants to introduce his son inder as partner .Lal objects to his proposal . (iv) Lal Wants that profit should be distributed in the ratio of their capitals but Atal wants that it should be distributed equally .