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Accountancy · 2023 · 1 mark
Accounting for Partnership: Basic ConceptsDistribution of Profit among Partners1 markvery short answer
CBSE 2023 · Region 4 · Set 1 · Q1
Vijay and Ajay are partners in a firm. The partnership agreement provides for interest on drawings @ $\displaystyle 12$% per annum. Which of the following account will be debited to transfer interest on drawings to Profit and Loss Appropriation A/c ?
Official answer
From CBSE’s own marking scheme for this paper.
(A)
Interest on Drawings Account
Marking-scheme solution
(a)
Interest on Drawings Account
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CBSE Class 12 Accountancy past-paper question from the 2023board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.