Match the following: List-I List-II a. Interest on partner’s capital is chargeable to the extent of available . . . . . . . . 1. competing b. The amount due to the retiring partner can be made by . . . . . . . . payment method. 2. mutual c. A partner must not carry on a . . . . . . . . business. 3. profit d. Partners are . . . . . . . . for each other. 4. lumpsum A. a-4, b-3, c-1, d-2 B. a-3, b-4, c-1, d-2 C. a-3, b-4, c-2, d-1 D. a-4, b-3, c-2, d-1

The correct answer is: A. a-4, b-3, c-1, d-2

Here is a brief explanation of each option:

• a. Interest on partner’s capital is chargeable to the extent of available profits. This means that a partner is entitled to interest on their capital investment, but only to the extent that there are profits available to pay it.
• b. The amount due to the retiring partner can be made by lumpsum payment method. This means that the retiring partner can be paid their share of the partnership assets in a single payment.
• c. A partner must not carry on a competing business. This means that a partner cannot start their own business that competes with the partnership business.
• d. Partners are mutually liable for each other’s debts. This means that if one partner is unable to pay their debts, the other partners may be held liable for those debts.

I hope this helps!