Test Index

WAEC Accounting 2023 Paper

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Question : 48

Total: 50

Which of the following rules is applicable in the absence of a partnership agreement? Interest is payable

on drawings at the rate of 5% per annum
on any contribution in excess of agreed capital at 5% per annum
at 5% per annum on the current account balances
on agreed capital contributed at 5% per annum

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