✓ Board-verified
Accountancy · 2024 · 1 mark
CBSE 2024 · Region 2 · Set 3 · Q13
On 1st January, $\displaystyle 2023$, Abhishek, a partner, advanced a loan of ₹ $\displaystyle 3,00,000$ to the firm. In the absence of a partnership agreement, the amount of interest on the loan for the year ending 31st March, $\displaystyle 2023$ will be :ORIf a partner withdraws a fixed amount at the end of each quarter, interest on drawings will be charged for __________ months. $\displaystyle 1$
OR
If a partner withdraws a fixed amount at the end of each quarter, interest on drawings will be charged for __________ months. $\displaystyle 1$Official answer
From CBSE’s own marking scheme for this paper.
(a) → (B)
(b) → (D)
Marking-scheme solution
(B)
₹$\displaystyle 4,500$
Q.(ii) If a partner withdraws a fixed ......................
Ans. (D) $\displaystyle 4$ ½
Read the following hypothetical situation.....................................
Practice Accounting for Partnership: Basic Concepts →All Accounting for Partnership: Basic Concepts questions
More from Accounting for Partnership: Basic Concepts
- Anita and Priyal were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2024,…2026
- Reema, Meesha and Shikha were partners in a partnership firm sharing profits and losses in the ratio of 8: 7:…2025
- Anuj and Kartik were partners in a firm sharing profits and losses in the ratio of 5: 4. Anuj withdrew ₹…2025
- Monika, Bhoomika and Kamolika are partners sharing profits in the ratio of 6: 4: 1. Kamolika is guaranteed a…2023
- Richa, Sheena and Tapti were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. The…2024
- Radhika, Mehar and Shubha were partners in a firm sharing profits and losses in the ratio of 9: 8: 7. If…2025
- Sun and Moon were partners in a firm sharing profits and losses equally. Their fixed capitals were ₹ 5,00,000…2025
- Nandita and Prabha were partners in a firm manufacturing furniture. They were sharing profits and losses in…2026
CBSE Class 12 Accountancy past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.