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Assertion: Aman and Vikas are partners sharing profits and losses in the ratio of 3:2. They do not have Partnership Deed. At the end of the year, Vikas demanded interest on capital @ 10 p.a. Reason: In the absence of Partnership Deed, interest on capital is not allowed a) Assertion is correct but Reason is wrong. b) Assertion is wrong but Reason is correct. c) Both assertion and reason are wrong. d) Both assertion and reason are correct. |
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Answer» b) Assertion is wrong but Reason is correct. |
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