9706/12 Accounting May Jun 2024 Online Test | Cambridge AS & A Level MCQ
X and Y are in partnership but do not have a partnership agreement. X had introduced twice as much capital as Y and made a loan to the partnership.
X insists he is entitled to the following:
1. interest on the extra capital he has invested
2. interest on the loan he has made to the partnership
3. a profit share of double that of Y
4. not to pay interest on his drawings.
What is X entitled to?