Which of the following is not true of a partnership business without written agreement?
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- A Profit and losses will shared equally
- B Interest not to be paid on capital
- C Interest on drawings is to be at the rate 5% per annum
- D Salaries are not allowed to partners
- E Money in excess of capital agreed to subscribe is to attract an interest of 5% per annum
Correct Answer: Option C
Explanation:
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