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Partnership Act 1932 does not comprise of which of the following?

25. Partnership Act 1932 does not comprise of which of the following?

1. No interest is allowed on capital invested
2. All loans provided are to be allowed on a fixed interest rate
3. Profit and Losses are to be shared equally
4. Interest has to be charged on all drawings

Answer: D) Interest has to be charged on all drawings

Explanation:

Partnership Act 1932 does not comprise of the term that Interest has to be charged on all drawings.