Under FEMA, current account transactions are: MCQ with Answer and Explanation

Explanation:
In absence of agreement, a partner is entitled to interest on loan advanced to the firm at 6% per annum as per Partnership Act, 1932.

Explanation:
Depreciation is a non-cash transaction and does not involve a source document like invoice; it's recorded via journal voucher but is not an external voucher. But the term 'non-voucher' might refer to transactions without a supporting document. Depreciation entry has no source document, so it's often a journal entry. The question is ambiguous but likely pointing to depreciation as a non-cash transaction without physical voucher. Answer A.

Explanation:
A debit note is sent to the supplier indicating that their account has been debited (reduced) in our books due to returned goods.