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Interest on Advance given to the Firm by Partners is :

+2 votes

asked Mar 11, 2019 in Class 12 by kratos

Interest on Advance given to the Firm by Partners is :

(A) An Appropriation

(B) A Gain

(C) A Charge

(D) of these

class-12
company accounts
accounting for share capital and debenture

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1 Answer

+5 votes

answered Feb 1, 2020 by kratos

Best answer

The correct option is (c).

Explanation:

Interest on Advance given to the Firm by Partners is a**Charge.**

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