1) Interest on drawings : No interest on drawings would be charged from partners.
2) Interest on Advances other than capital : If a partner has provided any Loan to the...
Group A
Group B
(i) Public Company
Minimum 7 members
(ii) Private Company
Minimum paid up capital Rs 1,00,000
(iii) Owned and controlled by one person
Sole Trading Concern
(iv) Registration Compulsory in Maharashtra
Partnership firm
(v) Co-operative societies
Democratic Management
Correct Answer - False : In life insurance, insurable interest must be present only at the time of effecting th policy, but need not be necessary at the time when...