WAEC - Accounts Principles Of Accounts (1994 - No. 19)
Which of the following is not true of a partnership business without written agreement?
profit and losses will shared equally
interest not to be paid on capital
interest on drawings is to be at the rate 5% per annum
salaries are not allowed to partners
money in excess of capital agreed to subscribe is to attract an interest of 5% per annum
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