Question : The partnership legislation of 1932 states that the interest due to a deceased partner on whatever money he left behind shall be -

Option 1: 10%

Option 2: 16%

Option 3: 8%

Option 4: 6%

Question : The Partnership Deed is silent on the rate of interest to be paid on the amount due to the heirs of the deceased partner. At what rate interest on the outstanding amount shall be payable?

Option 1: At the rate at which the banks grant loan.

Option 2: At the rate of interest provided in the Partnership Act, 1932.

Option 3: At the rate of interest demanded by the heirs of the deceased partner.

Option 4: 12% PA

Question : The rate of interest on the outstanding amount to the deceased partner, if it is not agreed to or the Partnership Deed is silent on the subject, is_____________.

Option 1: 5% PA

Option 2: 6% PA

Option 3: 6%

Option 4: None of the above

Question : The rate of interest on the outstanding amount to the deceased partner, if it is not agreed to or the Partnership Deed is silent on the subject, is_____________.

Option 1: 5% PA

Option 2: 6% PA

Option 3: 6%

Option 4: None of the above

Question : In the absence of a partnership deed, Interest on a loan of a partner is allowed.

Option 1: @ 6% p.a.

Option 2: @12% p.a.

Option 3: No interest is allowed

Option 4: @ 8% p.a.

Question : In the absence of a partnership deed, Interest on a loan of a partner is allowed.

Option 1: @ 6% p.a.

Option 2: @12% p.a.

Option 3: No interest is allowed

Option 4: @ 8% p.a.