WAEC Accounting 2015 Objective — Question 36

Question 36 of 50 from the West African Examinations Council (WAEC) Accounting 2015 Objective paper, with the correct answer and a full explanation.

Which of the following is not stated in the partnership agreement?

A. Profit sharing ratio
B. Interest on capital
C. Interest on fixed assetCorrect
D. Purpose of partnership

Explanation

Interest on fixed assets is not a concept typically stated in a partnership agreement/deed, unlike the profit-sharing ratio, interest on capital, and the partnership's purpose.

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