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Q. In the absence of an agreement, Interest on loan advanced by the partner to the firm is allowed at the rate of:

Q. The Securities Premium amount may be utilized by a company for __________.

Q. A person who receives a share of profits from one of the regular partner is called:

Q. When good will is brought in cash by new partner, method is known as:

Q. Drawings of the partners are:

Q. The profit included in surplus or shortage of stock is transferred to ______ account

Q. Interest earned is a

Q. _______ is root cause for financial accounting