In a situation where section 24 of the Partnership Act applies, which one or more of the

Question:

In a situation where section 24 of the Partnership Act applies, which one or more of the following statements are correct?
(a) Profits and losses have to be shared equally
(b) If any partner contributes more capital interest may be allowed at 5%
(c) No interest can be paid on a loan received from a partner
(d) No interest may be charged on amounts drawn by any partners